In 2011, RSD 4.7 billion through Development Fund of Vojvodina

Next year, Vojvodina will invest 4.7 billion dinars in export and employment programmes through the Development Fund of Vojvodina, Prime Minister of Vojvodina Bojan Pajtic stated yesterday in Novi Sad.

Pajtic said at the presentation of the operations of the Development Fund that the fact that the Fund would unite the funds with Razvojna Banka Vojvodine (Development Bank of Vojvodina) was of particular significance since "aforementioned amount will be twice or thrice as big for the incentives for economy or agriculture in Vojvodina".

- The data that we have so far invested 235 million euros in over 5,000 loans in order to create 20,000 new jobs is sufficient to show the expediency of the Fund - said Pajtic and added that half of the privatization funds had been invested in the Development Fund.

Director of the Fund Snezana Repac said that 4.7 billion dinars worth of loans had been granted during 2010, significantly more than in 2009.

She said that the last tranche of 2 billion dinars for recapitalization of Razvojna Banka Vojvodina had been paid that day and, thus, a new opportunity had been opened for joining the funds and lending them under the most favorable credit terms to businessmen and farmers in Vojvodina.

According to Snezana Repac, owing to the joining of funds with Razvojna Banka Vojvodina, the users of loans received a total of 6 billion dinars this year.