Second €30 Million Credit Line from Italy

After the successful utilization of the First Credit Line Facility, the Italian government has approved a new Second Credit Line Facility worth €30 million, which the Italian Embassy and the Serbian Ministry of Finance will administer together in Serbia.

The goal of this credit line is to contribute to economic development in Serbia through boosting the development of the private sector, expanding cooperation with the EU, and helping public utility companies with improving their local services all through facilitating easier access to favourable loans granted by nine local banks which are involved in the facility.

Small business owners and companies registered in Serbia, regardless of the nationality of their owners, can become beneficiaries of the Italian credit line. The loans range from €5,000 to €1 million for microenterprises and small business owners, from €50,000 to €1 million for SMEs and from €150,000 to €2 million for public utility companies.

At least 70 per cent of the money should be used for the acquisition of equipment, technology, technical assistance, spare parts, and industrial licenses for Italian products, while up to 30 per cent of the money can be used for covering local costs and working capital for investments. The equipment purchased with the money from the credit line is exempt from VAT. For more information, please visit www.italiancreditlineserbia.org.