Total of 420m EUR worth of subsidized loans approved

The Ministry of Economy of Serbia announced yesterday (June 11, 2009) that business banks had approved total of 420m EUR worth of subsidized loans in three months.

According to the website (www.merr.gov.rs), prior to June 9th, 390m EUR worth of foreign currency loans for liquidity have been granted through the Government of Serbia's programme of measures for alleviation of effects of the global economic crisis, while the value of the Dinar loans that have been granted for the same purpose amounts to 676,000 EUR.

Total of 2,662 loans worth 18m EUR have been approved for procurement of domestic automobiles, 281 loans worth 2.3m EUR have been granted for procurement of tractors, while 9m EUR worth of 5,792 loans have been issued for procurement of other domestic products.

The bank have, so far, received requests for about 811m EUR worth of loans, about 720m EUR of which is the value of requested liquidity loans in EUR.

Companies have also submitted requests for about 28m EUR worth of investment loans, while the value of requested consumer loans amounts to about 45m EUR.

The bank with the largest amount of approved loans is Banca Intesa - 146m EUR, followed by Komercijalna Banka - about 67m EUR, ProCredit Bank - 38.5m EUR, Societe Generale Bank - 29m EUR, and UniCredit Bank - 27m EUR.