Serbian Finance Minister Sinisa Mali and the vice-president of the European Investment Bank (EIB), Lilyana Pavlova, have signed a financial agreement worth €200mn which supports small and medium enterprises (SMEs) and mid-cap enterprises with the aim of mitigating the consequences of the COVID-19 pandemic, the government of Serbia announced.
According to Mali, the money will be distributed through the Development Fund to those companies which have not yet received money, in order to mitigate the negative consequences of the pandemic, eKapija reported.
He said that the credits would be issued on very favourable conditions and specified that €110mn is intended for working capital to help maintain liquidity, while €90mn is for investment activities, purchase and procurement of equipment, growth and development of companies, in order to further mitigate the negative consequences of the pandemic.
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