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.
Related Articles
S&P upgrades ratings of Freedom subsidiaries to ‘BB-’
S&P Global Ratings has upgraded the credit ratings of several subsidiaries of Nasdaq-listed Freedom Holding, raising ratings on Freedom Finance, Freedom Finance Europe, Freedom Finance Global and ... more
Kazakhstan’s Freedom fintech sets out to emulate and exceed Revolut in Europe
Freedom Holding Corp (Nasdaq: FRHC) is positioning itself to expand deeper into Europe’s financial services market with plans to launch a digital bank in France, backed by a €500mn ($572mn) ... more
Fintech Freedom Holding aims to make France key entry point into EU with €500mn investment
A French banking licence would open the way to a new phase in the international expansion of Nasdaq-listed fintech group Freedom Holding Corp. That’s the expectation of Freedom, a company ... more