DINKIC: Subsidized loans for exporters as of September

(Mladjan Dinkic)

Serbian Minister of Finance and Economy Mladjan Dinkic stated today that subsidized loans for export-oriented companies would be available from September, adding that about EUR 1 billion would be earmarked in the budget for that purpose.

Dinkic said after a meeting with exporters that EUR 300 million for interest subsidies on these loans would be earmarked in the budget by the year's end, whereas the rest would be earmarked in 2013.

Loans will be denominated in dinars, with the annual interest rate equalling the reference rate set by the National Bank of Serbia, and in foreign currencies, with the interest rate of 3.5 percent.

The repayment period for these loans is 18 months, with the grace period of five months.

The amount of subsidized loans for exporters will depend on the category of the enterprise applying for a loan, and the only condition is that the users must not dismiss their employees.

The maximum amount of a loan for small enterprises is RSD 30 million, for medium-sized enterprises - RSD 200 million, for large enterprises - RSD 400 million, and for predominantly export-oriented companies - RSD 600 million.

Dinkic announced that 104 parafiscal taxes would be abolished October 1st.