"Kosa Trade" got first investment loan from Government’s programme – funds provided for procurement of business building

- The first investment loan from the programme that the Government of Serbia introduce to alleviate effects of the economic crisis has been granted to Veternik-based company "Kosa trade" – the Ministry of Economy and Regional Development of Serbia announced.

Total value of the investment is 14,400,000 RSD, 30% of which (4.3m RSD) have been approved by the Development Fund, while Erste Bank set aside 70% (10.1m RSD).

Company “Kosa trade” will use the loan to purchase a business building, to have the distributive center in Niš reconstructed and equipped, and 10 jobs will be created thanks to the investment.

According to the plan, the Government of Serbia should set aside 5 billion RSD to subsidize investment loans, while 12 billion RSD should be provided by commercial banks, which means that the companies in Serbia will be able to get total of 17 billion RSD worth of favorable investment loans. Interest rate on these loans should amount to about 6% on annual basis, while the repayment period should range between 3 and 5 years, with the grace period of 6 to 12 months.