MALI: Great response from commercial sector, banks receive requests worth EUR 1 billion

The Minister of Finance Sinisa Mali said yesterday that banks received requests for state-guaranteed loans worth almost EUR 1 billion. The loan programme is a part of the guarantee scheme to subsidize liquidity and working capital for micro, small and medium-sized enterprises help mitigate the economic impact of the coronavirus

He assessed that the commercial sector responded remarkably well and that the state’s recovery programme successfully

– After the cut off date on June 15 2020, we've seen that banks have approved 6,322 loans with a total value of EUR 526 million, out of which 4,996 are contracted loans with the value of EUR 365 million. The numbers showed that we hit the core of the problem. On the other hand, this measure guarantees the stability of our economy, strengthens it further and secures jobs, Mali stated.

Mali reminded that the guarantee scheme for cheap loans is part of a wider EUR 5.1 billion pandemic package the state approved to help its citizens.

This type of financial aid specified by the Decree on establishing a guarantee scheme for loans as part of measures in response to COVID-19 crisis provides bank guarantees worth 2 billion euros, Ministry of Finance statement says.

The Minister noted that around EUR 1 billion was still available and invited companies and entrepreneurs to apply for the aid.

– The requests show that entrepreneurs, micro and small legal person have been struggling the most and needed liquidity and working capital subsidies the most. We did aim to protect their businesses. I invite those who are still having second thoughts about the loans to take a chance ans apply. These are really favourable loans, he said.

Ministarstvo finansija Republike Srbije

Sinisa Mali

coronavirus

loan

loans

guarantee scheme

Programme of Economic Measures to Mitigate the Negative Effects of COVID 19

Serbia 2025 programme

liquidity loans

working capital