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Favourable loans for purchasing Italian equipment

Banca Intesa and the Guarantee Fund of AP Vojvodina signed the agreement on business cooperation as to provide small and medium enterprises from the territory of Vojvodina a facilitated access to the credit line approved by the Government of the Republic of Italy for the realisation of the project named: “Private sector development programme supporting small and medium enterprises through system of local banks.”

The amounts of the loans to be granted for procurement of new equipment originating from the Republic of Italy are in the amount of EUR 50,000.00 to 150,000.00. Tenor is up to 8 years with no more than two years of grace period. Interest rate is fixed and amounts to 4,9% per annum.

The Guarantee Fund of AP Vojvodina will provide to clients from the territory of Vojvodina a guarantee amounting to 50% of the loan. For the approval of guarantees necessary for the realisation of loans from the concerned credit line, the Fund invited the tender which has been open from September 13 and will last until the usage of the guarantee potential. The overall guarantee potential amounts to 150 million from the Fund’s funds.

Companies with head offices in Vojvodina operating at least two years in the activity they seek the line for, recording annual turnover of RSD 50 million and employing less than 250 workers are entitled to apply. Positive financial report and the business plan are to be approved both by the Fund and Banca Intesa. Also, 65% privately owned capital is considered as a necessary condition for granting of the loan.

The new credit line is the result of the interstate agreement between Serbia and the Government of Italy, according to which the Italian government provided loans for purchasing equipment from that country.