Italian credits worth €33m for development of small economy

Government of Italy has approved credit line in amount of about €33m intended for development of small and mid-sized enterprises. The loans are approved with the repayment period of 8 years, interest rate of 4.9% on annual basis and grace period of two years. Minimal amount of loan is €50,000 and the maximal is €1m. The credits will be approved through Eksimbanka, Komercijalna banka and Delta banka.

The enterprises that are, according to EU standards, small or mid-sized can apply for these loans. That means that they have to employ less than 250 workers and realize income of less than €50m. The condition is, also, that the enterprises are registered in Serbia and that they have at least 65% of assets in private ownership and that they are active for at least two years in the field they asked means for.