RSD 556 million of support to small companies provided – Invitation for allocation of grants placed

The Ministry of Economy of Serbia opened a public call for a program of grants for small companies for the purchase of new machines and production equipment, in the total amount of RSD 556 million.

Taking into account the needs of the business sector, the maximum grant for a single company for the purchase of equipment has been doubled from 2.5 to 5 million dinars.

Also, businessmen can now apply for this program regardless of whether they have already used state funds in any other capacity or through any other program, says the press release by the Ministry of Economy.

The banks which will credit the procurement of machines and equipment will not require securities other than a pledge on purchased goods.

In the procurement of equipment, grants make up 25% of the total value, the enterprise participates with 5%, and the remaining 70% comes from the credit of partner financial institutions.

The program is carried out in cooperation with five banks and a leasing company: Postanska Stedionica, Credit Agricole, Halkbank, Eurobank, ProCredit Bank and Raiffeisen Leasing, the Ministry of Economy says.

In 2017, the program saw 425 requests, of which 396 were approved. Thanks to the procurement of new equipment through these contests, these companies intend to employ 1,630 people in the next two years, the press release adds.

The experience of the Ministry of Economy has shown that the most interested companies are those that produce food, metal structures, textile and clothing, process wood, rubber and plastic, those in the printing business and producers of furniture, paper and cardboard items and construction products.