Government of Serbia approves credits to exporters

The Development Fund of Serbia approved 716 microcredits for employment in amount of €12.5m. Thanks to that, 3,500 unemployed citizens found jobs. All those who employed at least four workers obtained credits. The Development Fund has also approved 41 microcredit for employment in Kragujevac, Bor and Vranje in amount of about 500 million CSD.

Republic Government has provided credit potential for operations of Agency for insurance and financing of export. At this moment, the credit potential of the Agency amounts to €9m. In the starting phase of development the Agency will follow exporters through approval of direct short-term (3-6 months) credits to exporters. The exporters will be approved loans in amount of 30,000 – 459,000 EUR and with interest rate of 3-5% on annual basis. The condition for obtaining of credit is export worth at least €1m, signed contract on export and positive business results.