150 mil EUR from Apex program for SMEs – Banks begun accepting requests for credits

Fifteen business banks in Serbia began granting affordable loans to small- and medium-sized enterprises from Apex program of European Investment bank.

EIB has granted Serbia new, fifth Apex program worth 500 mil EUR, and now the 150 mil EUR tranche has been given through business banks.

– This credit line has very attractive interest rates of 3% indexed in Euros, while for companies employing young people, or are included in programs of training of young workers have additional benefits and lower interest – said Katarina Obradović from the Ministry of Economy.

Credits can be used for investing in permanent working capital and investment projects. They are granted in amounts up to 12.5 mil EUR, for a minimum period of 2 years and 2 years grace period.

As said by Katarina Obradović Jovanović, funds are intended mainly for companies planning larger investment projects. She adds that the negotiations for the next 200 mil EUR tranche of credits will begin in the end of the year.