The
Ministry of Economy and Finance (MEF) has extended the validity of the Business Support Fund for the Textile and Clothing Sector (FAE-Texco), with the aim of promoting the financing of micro- and small-sized enterprises (MSEs) in the sector.
"Article 16. The FAE-Texco is valid for 78 months, from the expiration date of the acceptance period established in Article 17 of Urgency Decree No. 002-2023. Said term includes the liquidation term of the aforementioned Fund," the resolution reads.
It should be noted that the term for granting guarantees for new FAE-Texco credits expires on June 30, 2023, and then it was set to be valid for six years, but now, with the amendment, it will be valid for 78 months.
(END) CAN/RMB/MVB
Published: 2/1/2023