US AMBASSADOR OPENS OSIJEK BANKING AGENCY

OSIJEK, Oct 21 (Hina) - US Ambassador to Croatia Peter Galbraith opened an Osijek Banking Agency (NOA) office in Osijek on Tuesday. #L# The Osijek Banking Agency was set up as a credit institution catering to small companies. The agency's initial capital of US$ 3 million was provided by USAID via Opportunity International, a non- government organisation specialising in support to small companies. Over the next three years, small entrepreneurs will be able to apply for loans up to US$ 10,000 apiece. Present at the opening ceremony were the Transitional Administrator of eastern Slavonia, Jacques Klein, Barbara Turner with the USAID Central Europe department, city and county officials and a number of businessmen. "A revitalisation of the business sector is an important prerequisite for overall progress in this war-damaged area," Ambassador Galbraith said in his opening speech. "The idea is to help small entrepreneurs and thus help increase productivity and employment," he said. Businessmen from the whole eastern Slavonia region, including the UNTAES- administered area, will be eligible for loans, he said. Expressing satisfaction with the opening of the NOA office, Transitional Adminsitrator Jacques Klein said it would "contribute to the reconstruction and the economic revitalisation of the area." (hina) as 211355 MET oct 96