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Spain approves €10 million for Serbia’s small business
Belgrade,
6 September 2004
The Spanish Ministry of Foreign Affairs has informed the Serbian Ministry of International Economic Relations that Spain has approved a new credit line to Serbia for micro loans totaling €10 million.
The previous credit line from Spain, worth €5 million, was used within a period of six months to disburse around 3,000 loans averaging €1,752, the Ministry of International Economic Relations said in a statement today.
Based on experience with the previous credit line, which was realized through ProCredit Bank, the Ministry of International Economic Relations has proposed that the Government of Spain approve another credit line, worth twice as much, to be used for lending to small enterprises.
The decision by the Spanish government to accept the Serbian ministry’s proposal represents another incentive to Serbia’s small business as well as proof that overall economic relations between the two countries are in advance, reads the statement.
Based on experience with the previous credit line, which was realized through ProCredit Bank, the Ministry of International Economic Relations has proposed that the Government of Spain approve another credit line, worth twice as much, to be used for lending to small enterprises.
The decision by the Spanish government to accept the Serbian ministry’s proposal represents another incentive to Serbia’s small business as well as proof that overall economic relations between the two countries are in advance, reads the statement.
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