Source: Tanjug | Tuesday, 21.04.2020.| 11:10
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Payment of Corporate Loans Begins – EUR 2 Billion Available Through Development Fund

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Illustration (Photo: eivanov/shutterstock.com)
An amount of EUR 2 billion in credits guaranteed by the state through the Development Fund is formally available to companies in Serbia from today.

Also, RSD 2.6 billion is now available to agriculturists through the Agrarian Payments Department.

The first payment through the Development Fund begins today, after the session of the fund's Management Board, where the first applications will be examined and approved, Serbian Finance Minister Sinisa Mali announced earlier.

Last Thursday, the decrees on defining a guarantee scheme as a measure of support to the economy for abating the consequences of the COVID-19 pandemic, on monetary help to farms and on financial support to farms through facilitated access to credits were adopted at a session of the Government of Serbia.

According to the minister, the adoption of these decrees makes the program of economic measures for supporting the economy complete.

Two billion euros (around 24 billion dinars) in state-guaranteed loans is lent for a period of 36 months with a grace period of 9 to 12 months and is meant for the procurement of working assets and maintaining current liquidity, so that the companies could regularly settle the obligations toward their business partners, employees and the state.

Enterprises, cooperatives, micro, small and medium companies majority-owned by a private entity or a cooperative and carrying out production, service, trade or farming activities, are eligible.

Loans can also be issued if the business entity had a net loss, but an operating gain, in one of the past two years, according to the official financial reports.
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