The first COSME agreement with EIF signed EUR 60 million support for 3 000 SMEs in Serbia

The European Investment Fund (EIF) and Banca Intesa AD Beograd signed yesterday the first agreement in Serbia under the COSME programme, the European Commission’s programme for small and medium-sized enterprises (SMEs).

Thanks to the financial backing of the European Commission, EIF is providing a direct guarantee that will enable Banca Intesa to support 3,000 SMEs in Serbia over the next two years with EUR 60 million in loans on favourable terms – with increased maturities and without any hard collateral. The loans will be granted for 36-month period with minimum 2.39% and maximum 7.75% interest rate. Entrepreneurs can send their applications to the bank already today.

Goran Knežević, Minister of Economy said that Serbia is turning more and more to growth and that the Government of Serbia focused on SMEs and entrepreneurship, which are seen as bearers of development and added that the Ministry of Economy will continue the cooperation with the banks regarding the implementation of COSME and other commercial banks are expected to join its implementation in the following year.

For further information: http://www.privreda.gov.rs/60-miliona-evra-kredita-pod-povoljnim-uslovima/