ZAGREB, Aug 31 (Hina) - Croatia's ministry of small and medium-sized businesses and the Zagrebacka Bank on Thursday concluded a contract on their co-operation in conducting a programme aimed at stimulating Croatian businessmen to
enhance export. The contract, worth 210 million kuna (52.5 million German marks), were signed by Minister Zeljko Pecek and a vice-chairman of the bank's management board, Nikola Kalinic. Pecek explained that the ministry would allocate 21 million kuna for the deposit and the bank would allow the loan fund for the support of small entrepreneurship at the 1:10 ratio. That's why the entire fund comes to 210 million kuna. The lowest amount of a loan granted for the aforementioned purposes is 10,000 German marks (equivalent to the amount in kuna), whereas the largest amount of a loan is not determined. The interest rate, which is changeable, is eight (8
ZAGREB, Aug 31 (Hina) - Croatia's ministry of small and medium-
sized businesses and the Zagrebacka Bank on Thursday concluded a
contract on their co-operation in conducting a programme aimed at
stimulating Croatian businessmen to enhance export.
The contract, worth 210 million kuna (52.5 million German marks),
were signed by Minister Zeljko Pecek and a vice-chairman of the
bank's management board, Nikola Kalinic.
Pecek explained that the ministry would allocate 21 million kuna
for the deposit and the bank would allow the loan fund for the
support of small entrepreneurship at the 1:10 ratio. That's why the
entire fund comes to 210 million kuna.
The lowest amount of a loan granted for the aforementioned purposes
is 10,000 German marks (equivalent to the amount in kuna), whereas
the largest amount of a loan is not determined.
The interest rate, which is changeable, is eight (8) percent, but
the ultimate user of the loan pays six percent as the ministry will
subsidise two-percent points. The maturity is two years.
The Zagrebacka Bank will grant loans after it takes into
consideration the proposals given by a commission, which will
decide on the selection of projects. The commission consists of
members appointed by the ministry, the bank, the Croatian chambers
of commerce and crafts and the Croatian employers' association.
On Saturday (September 2) the tenders will be announced in the media
for businesses orientated towards export.
This year, 960 million kuna (240 million DM) will be earmarked for
the support to small and medium-sized businesses in Croatia.
(hina) ms