Additional 20 mln euro secured for entrepreneurs from EU funds

Small businesses that wish to apply for loans at more favourable terms under the schemes of European Structural and Investment Funds (ESIF) for small loans can count on an additional 20 million euro which has been provided in the envelope for that purpose and an agreement to that affect was signed on Friday by the Ministry of Regional Development and European Union Funds and the Croatian Agency for SMEs (HAMAG-BICRO).

Initially, 12.5 million euro was ensured through the ESIF instrument, and that amount has now been increased to 32.5 million euro with an increased allocation envelope, it was said during the signing of the agreement.

An annex to the agreement was signed by Minister of Regional Development and EU Funds, Grabrijela Zalac and HAMAG-BICRO officials, Vjeran Vrbanec and Marijana Oreb.

"Since this financial product has been on the market, due to more favourable and simpler application procedures, it has attracted much more interest than had been expected and the entire initial envelope was consumed by May 2017 and so we have applied for the envelope to be increased with an additional 20 million euro," Minister Zalac said.

Text: Hina

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