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The Government of the Republic of Serbia

In the service of citizens

Over 6,000 consumer loans approved

Belgrade, 21 April 2010

The Ministry of Economy and Regional Development stated that ever since banks adopted the Programme for Subsidised Dinar Loans for citizens, a total of 5,745 cash loans in dinars, worth RSD 900 million, have been approved, as well as 483 consumer loans in dinars, worth over RSD 14.8 million.

The statement adds that the aim of the Programme, adopted by the government less than a month ago, is to increase citizens’ purchasing power and stimulate domestic production and demand.

As many as 18 banks have so far joined the subsidised loan programme, of which Komercijalna Banka, Intesa, Unikredit and Societe General have approved the largest number of loans.

Loans were most commonly requested for purchasing construction material, furniture and household appliances.

The maximum cash amount of the loan is RSD 300,000. The interest rate for citizens with incomes below RSD 30,000 stands at 7.5%, while for those whose income is between RSD 30,000 and RSD 80,000 it is 8.95%. The repayment deadline is three years, with a twelve-month grace period.

More than €370 million was provided in liquidity and investment loans to support the economy over a period of two and a half months during this year, through a plan of the Ministry of Economy and Regional Development for dealing with the global economic crisis.

A total of €357 million was issued to 4,426 businesses in liquidity loans. Small enterprises received nearly €28 million, medium-sized ones got €86 million while large enterprises were granted €198 million.

A total of 136 investment loans of over €13 million have been issued up until now and demand for investment loans is still increasing.

It is expected that the continuation of the programme for supporting the economy in 2010, with the latest programme for increasing purchasing power and plans for increasing infrastructure investment, will lead to quicker economic recovery and higher industrial growth.