Government of Serbia Adopts Measure of Support to Companies Affected by Conflict in Ukraine

At yesterday's session, the Government of the Republic of Serbia adopted the Conclusion on Annex 2 of the Basic Agreement on the Guarantee of the Republic of Serbia for Lending to the Economy Due to Prolonged Negative Impact of the SARS-CoV-2 COVID-19 Pandemic, as Assistance to Domestic Enterprises Whose Operations are Directed at the Markets of Russia, Ukraine and Belarus.

Serbian Finance Minister Sinisa Mali explained that it was about support for approximately 1,400 companies, which would have the opportunity to use the second guarantee scheme to refinance the obligations from the first guarantee scheme.

– The war events in Ukraine have led to a change in circumstances, which could not be predicted with the outbreak of the pandemic. It has a parallel negative effect on economic activities, especially of those subjects whose business activities are directly or indirectly related to the export and import of goods and services and which have a developed and predominant cooperation with business entities from Ukraine, the Russian Federation and Belarus. That was the reason we decided to help them, and the realization of this Conclusion does not require the securing of financial funds from the budget of the Republic of Serbia. So, the signing of an annex to the agreement is enabled to banks whereby loan beneficiaries will be able to refinance their obligations from the first guarantee scheme, all to the end of improving the repayment capacities of those subjects – he said, as announced by the Ministry of Finance.

He noted that it seemed that the aid was small, but that it would mean a lot to companies whose operations were affected by the conflict in Ukraine.

Vlada Republike Srbije

Ministarstvo finansija Republike Srbije

Government of Serbia

Ministry of Finance

Siniša Mali

war in Ukraine

companies

business operations

exporters

aid

second guarantee scheme

decision