New government measures in support of tourism, hospitality industry and transport

The Serbian government yesterday adopted the regulatory framework providing further support to the segments of tourism, hospitality and transport, due to the difficult economic conditions these sectors face after the pandemic.

As announced, tourism, hospitality and transport companies will be able to take out loans from the Development Fund to improve their liquidity and working capital under changed conditions, which include a longer repayment period of up to five years, including a grace period of up to two years.

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The grace period for repayment of loans 24 months and they will have to be paid up to 36 months, with an annual interest rate of 1%. The loans are granted in dinars and the maximum amount for a borrower is the following – up to 20 million dinars for micro-enterprises and small business owners, up to 80 million dinars for small enterprises and up to 180 million dinars for medium-sized enterprises.

The maximum amount of the loan can be up to 80% of the revenue generated from the company’s activities, as stated in the latest financial report submitted.

The Minister of Finance, Siniša Mali, said that the objective of the financial support package was to re-start economic activity as soon as possible and assessed that the tourism, catering and transport sectors would thus ensure greater liquidity and have the opportunity to operate more efficiently.

“Understanding the nature of business in these sectors, and after a few meetings with the sector representatives, we came to the conclusion that the most important thing is to extend the loan repayment period and have a longer grace period so that everyone has more time to stabilize their business,” concluded Mali.

(Danas, 28.05.2020)

This post is also available in: Italiano

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