ABOUT ONE BILLION KUNA WILL BE INVESTED IN ENTREPRENEURSHIP

ZAGREB, Aug 28 (Hina) - A total of 960 million kuna will be invested in small and medium-sized businesses and crafts in Croatia through different projects of loan-granting. This amount should exceed one billion kuna in a year's time, the Minister of Crafts and Small and Medium-Sized Businesses, Zeljko Pecek, said at the presentation of the ministry's work in the first six months in Zagreb on Monday. The Ministry, the units of local self-government and business banks will provide a total of 750 million kuna, of which 48 million kuna will be allocated from the budget, as incentives for small businesses, including favourable loans. The project of granting loans to exporters and the introduction of new technologies is worth about 120 million kuna. In line with the model of multiplication of budgetary funds, another project aimed at granting loans for the commercialisation of innovations, worth about 40 million kuna, has been started, Pecek said. The purpose of the project, it was said, is to place on the market innovations which have won a large number of international awards, as new, recognisable Croatian products. The programme of restructuring will provide assistance for companies with up to 250 employees, in which the ownership share is larger than 25 percent and which have complete restructuring programmes and are not undergoing bankruptcy proceedings. About 50 million kuna have been secured by this package until the end of this year and bids will be invited this week. (hina) jn rml