Important role of EIB in providing SME loans

Serbian Finance Minister Mr. Mladjan Dinkic, met today with a delegation of the European Investment Bank (EIB), headed by Vice President Gerlando Genuardi. At the meeting, the Minister highlighted the importance of development of small and middle-size enterprises in Serbia, as well as the role of this bank in providing loans for these projects.

Participants in the meeting agreed that the EIB should provide a new credit line for small and middle-size enterprises, since this year’s line has been more than doubled compared to 2002, and instead of 20 it will reach the sum of € 45 million. Also, the negotiations on this new credit line are expected to be completed till the end of June 2004. Of the planned € 45 million, € 40 million are aimed at SME crediting and € 5 million are intended for micro loans.

Minister Dinkic also supported other infrastructure projects proposed by the EIB representatives, particularly the ones dealing with the Corridor 10 rehabilitation, air traffic control and improvement of water supplies processing throughout Serbia, as well as infrastructure projects in health and education sectors, totaling almost € 280 million.