KfW credit line

Small and medium-sized enterprises according to EU criteria:

• Fewer than 250 employees
• Income less than EUR 50 million
• Total assets less than EUR 43 million
• that in majority they are privately owned.

The number of employees is a binding condition. With regard to the financial criteria, only one of the two above criteria is sufficient to be met.

In the case of groups of related parties, the data are observed at the consolidated level.

• maximum loan amount: EUR 1,000,000
• loan term: up to 7 years
• grace period: up to 2 years

For investments in rural parts of Serbia which includes all regions except the cities of Belgrade and Novi Sad. Companies from these two cities are also acceptable, provided that they invest in other parts of Serbia.

Loan funds can be used for:

• investments in fixed assets of companies (facilities, equipment)
• working capital associated with the investment (up to 30% of the investment)

The implementation consultant will have the role of analyzing the socio-ecological aspects of the investment and determining any additional measures.

Credit line funds cannot be used for projects in the following areas:

• Production or trade of products subject to national or international prohibitions and restrictions such as

- Certain drugs, pesticides, herbicides and other toxic substances
- Substances that deplete the ozone layer
- Protected wild species
- Waste trade

• Investments that may be associated with the destruction of protected areas
• Production or trade of asbestos,
• Production and sale of tobacco, alcoholic beverages, 
• Destructive fishing methods
• Production and trade of weapons and ammunition, 
• Games of chance and gambling activities,
• Exploitation of coal,
• Oil and gas exploration and extraction