Soon invitation to apply for equipment purchase - Societe Generale, Raiffeisen and ProCredit Bank to finance procurement of machines

The Ministry of Finance and Economy of Serbia has picked three banks that offer the most favorable terms of lending under the Program of Support to Small Enterprises for the Procurement of Equipment in 2013. These banks are Societe Generale, Raiffeisen, and ProCredit. A public invitation for small enterprises, entrepreneurs and cooperatives to apply for participation in the Program will be issued in mid-June.

Under this program, the Ministry will provide grants to small enterprises to purchase equipment, amounting up to 25 percent of the value of the equipment to be procured. Business entities are to provide 5 percent of that value, whereas the remaining 70 percent will be provided from the proceeds of the loans approved by aforementioned business banks under promotional terms.

The Program is being implemented by the Ministry of Finance and Economy in cooperation with the National Agency for Regional Development and selected business banks. The aim of the Program is to strengthen the competitiveness of business entities, improve their operations and internationalization process, as well as create new jobs through investment in equipment.

An invitation to apply for this program will be published in daily newspapers, whereas all the required documentation can be either taken from the business banks participating in the Program or downloaded from the following websites: http://www.mfp.gov.rs (Ministry of Finance and Economy), www.narr.gov.rs (National Agency for Regional Development), and www.preduzetnickiservis.rs (Entrepreneurial Service).