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The Government of the Republic of Serbia

In the service of citizens

Ministry of Economy approves RSD 2.8 billion for start-up loans

Belgrade, 11 July 2008

State Secretary for Regional Development at the Serbian Ministry of Economy and Regional Development Dejan Jovanovic stated that this ministry approved RSD 2.8 billion for start-up loans with which 2,276 new companies will be opened.

Dejan Jovanovic

Jovanovic said at a press conference held at the Serbian government that with these loans 7,039 jobs will be created in Serbia. Payment of the loans will begin soon and priority will be given to younger applicants. Almost 80% of the loans were approved to applicants below 40 years of age.

Speaking about the regional distribution of loans, Jovanovic said that 473 went to applicants in Belgrade, 155 to Sumadija, 141 each to the districts of Raska and Nisava, 106 to Banat South District, and some were also approved for projects in the districts of Pirot, Toplica, Banat North and Backa North.

Loans were also approved to applicants from Kosovo-Metohija, i.e., 19 projects worth RSD 17 million.

Loans were mostly approved for small and medium-sized enterprises specialising in food processing industry (390 projects), utility, social and personal services (364 projects), wood processing (236 projects), followed by traffic, storage, construction, textile industry and tourism industries.

He said that the Ministry plans to approve 3,000 start-up loans every year, as a means to boost the opening of small and medium-sized enterprises and employment as well.

The State Secretary recalled that the first competition for start-up loans was announced in 2007, when 1,570 loans were approved with which 6,000 new jobs were opened.

He said that loans up to €15,000 were approved without mortgage with contractual guarantee, and loans up to &30,000 with mortgage, to five-year period and 1% annual inflation rate.