LOANS GRANTED FOR SMALL ENTREPRENEURSHIP IN SOUTHERN CROATIA

DUBROVNIK, Apr 26 (Hina) - A programme of small loans granted Dubrovnik-Neretva County, southern Croatia, by NOA, a savings and loan cooperative from the eastern town of Osijek, was presented at the Ron Brown Memorial House in Dubrovnik on Monday. In attendance were United States Ambassador to Croatia William Montgomery, the president of the New York-based Open Society Institute Aryeh Neier, and NOA manager Tomislav Flegar. Flegar said US$80,000 have been earmarked for small entrepreneurs in Dubrovnik, with average loans amounting to US$4,400. NOA was established in Osijek in 1996 with assistance from the Opportunity International organisation, and was financed by the U.S. Agency for International Development. With its loans, NOA has been assisting small entrepreneurs and farmers in Slavonia, eastern Croatia, while the Open Society Institute has made it possible for NOA to expand its activity in Dubrovnik-Neretva County. NOA loans span from US$500 to US$10,000. Speaking about partnership between Dubrovnik and the Open Society Institute, U.S. Ambassador Montgomery said the aim was to assist the southern Croatian seaport in the development of small entrepreneurship. The U.S. has granted US$3 million for small entrepreneurship, including US$200,000 for Dubrovnik, which Montgomery believes will incite further development in the field. The U.S. decided to grant a further US$1 million to the area given the fact that economy in southern Croatia has been seriously affected by the Kosovo crisis. (hina) ha