June 29, 2009   START-UP CREDITING PROGRAMME FOR 2009 COMPLETELY REALISED

Under the programme of the Ministry of Economy and Regional Development for crediting of start-ups, 2822 loans totalling to RSD 4.1 billion were approved during two cycles in 2009. Most of the loans (1966) have been granted to individual entrepreneurs, while the rest (856) are to be used by companies. Entrepreneurs will mostly invest these funds in opening of craft shops, and companies will primarily use them for food production purposes. Other approved loans are to be used for business start-ups in metal processing, machine, chemical, textile, electrical, optical, and wood industries, tourism, education, etc. The young under age of 25 were approved 722 loans, while those between ages of 26 and 40 years received 1,136 start-up loans. The Ministry's estimate is that this programme should provide employment to 10,000 workers. Due to large number of young people interested to start their own business, the budget allocated for 2009 has been completely disbursed, so the rest of applications for start-up crediting will be processed next year.