Business News

SID Bank Earmarks EUR 350m in Loans for Development Projects

Ljubljana, 06 October (STA) - The SID export and development bank announced on Wednesday that it will give out EUR 350m in loans to Slovenian businesses for projects promoting research and development, sustainable growth, environmental protection, entrepreneurship and high value added jobs. The funds will be available through commercial banks.

The final beneficiaries of the funds will be businesses, entrepreneurs and public institutions based in Slovenia, as well as businesses based abroad that are either buyers of Slovenian products and services, or subsidiaries of a Slovenian company, a press release from the SID bank said.

Companies applying for loans with projects promoting the development of a knowledge-based society will be able to get loans with a maturity of eight years, while projects promoting an environment-friendly society will have to repay their loans in 15 years.

Companies with loans for projects promoting business competitiveness will have to repay them in five years. Regional and social development projects will get loans with a maturity of 15 years.

It is not yet known which commercial banks will offer the loans - this is expected to be known in early November.

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