Q:
A:
EIB, Eksimbanka approve €1.125 million loan to yarn producer Dunav
Belgrade,
29 April 2004
Serbian Deputy Prime Minister Miroljub Labus, Belgrade Eksimbanka General Manager Cedomir Petrovic and Dunav General Manager Petar Stojanovic signed a €1.125 million loan agreement today.
The European Investment Bank (EIB) has secured €900,000 for the syndicated loan, with Eksimbanka contributing with the remaining €225,000.
The nine-year loan, which has a two-year grace period an annual interest rate of 5.8 percent, will help the yarn producer revive production and bolster exports.
In 2003, Dunav sold 55 percent of its total production abroad, an output valued at €2.7 million, the Tanjug news agency reported. This year, the company plans to join forced with local sock producers and post exports of €3 million.
The nine-year loan, which has a two-year grace period an annual interest rate of 5.8 percent, will help the yarn producer revive production and bolster exports.
In 2003, Dunav sold 55 percent of its total production abroad, an output valued at €2.7 million, the Tanjug news agency reported. This year, the company plans to join forced with local sock producers and post exports of €3 million.
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