Q:
A:
First tranche of Italian government's loan to be released
Belgrade,
9 November 2005
The National Bank of Serbia stated today that the first tranche of a €33 million loan approved by the Italian government to the Serbian government for development of small and medium-sized enterprises (SMEs) will be released soon. The amount of the first tranche is €5 million.
The loan will be released through three intermediary banks - Delta, HVB and Komercijalna Banka. The loan is very favourable, with an eight-year repayment period, a two-year grace period and a nominal interest rate of 4.9 percent at the annual level. Also, companies can get loans for development under these terms, ranging from €50,000 to €1 million.
According to the financial agreement with the Italian government, which became effective in the middle of June, the funds from this credit line are released in four tranches. After the realisation of the first tranche, the release of the second worth €10 million is expected, which is also intended for successful developmental projects for SMEs.
Another €10 million will be released under the third tranche, and the value of the fourth is €8 million.
According to the financial agreement with the Italian government, which became effective in the middle of June, the funds from this credit line are released in four tranches. After the realisation of the first tranche, the release of the second worth €10 million is expected, which is also intended for successful developmental projects for SMEs.
Another €10 million will be released under the third tranche, and the value of the fourth is €8 million.
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