Signing of an agreement on business and technical cooperation between the city of Niš and Banca Intesa

As a part of the Program for Local Economic Development of the City of Niš for 2019, implemented by the Office for Local Economic Development and Projects of the City of Niš, a public call for offers has been made out to banks interested in issuing short-term loans for businesses from the territory of the City of Niš, with participation from the City through the subsidizing of the interest rates of loans for:

• expenses of procuring machinery and equipment,
• modernizing the production process,
• stabilization of production,
• investments into new modern equipment and production,
• construction, reconstruction and adaptation of business premises.

The Commission for awarding funds for the implementation of this program, according to the criteria from the public call, selected the most favourable offer, which was submitted by Banca Intesa, with whom an Agreement on Business Cooperation was signed today at Niš City Hall. The Agreement was signed, on behalf of the city, by Mayor Darko Bulatović, and, on behalf of the bank, Regional Retail and Small Business Director at Banca Intesa Niš Regional Centre Violeta Marjanović.

The minimum amount of the loans whose interest will be subsidized is RSD 100,000.00, and the maximum amount is RSD 1,500,500.00. The City of Niš will subsidize the interest until the funds have been spent, with a repayment period of 12 months. The purpose of subsidizing this part of the loan is to contribute to the economic growth by offering easier access to loan financing, approved with favourable terms, to the private sector.