Business News

SID Gives Out EUR 928M in Loans in First Half of 2010

Ljubljana, 11 October (STA) - The state-owned SID export and development bank provided loans to 658 companies in the first half of 2010, mostly small and medium-sized enterprises (SMEs). The overall amount of loans stood at EUR 928m, of which 43% was provided directly by SID, and the remaining 57% through commercial banks.

The biggest part of the loans (EUR 341m or 37%) was given to boost operations in SMEs, while one third (EUR 304m) was given to stimulate international business, the bank said in a press release on Monday.

SID granted EUR 67m in loans for investments in research, development and innovation, and EUR 70m for energy projects. More than EUR 100m meanwhile went for infrastructural projects and regional development.

The most loans went to companies from the central Osrednjeslovensko region (29%) and the northeastern region of Podravje (23%).

SID also supports Slovenian companies on foreign markets by insuring exports and investments against non-market risks which are not covered by the private (re)insurance market, the bank said.

In the first eight months of 2010, SID insured EUR 1.1m of exports and investments of Slovenian companies, which is 88% more than in the same period last year.

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