December 13 (SeeNews) - The International Development Finance Corporation (DFC), the U.S. government's development finance institution, signed a $400 million (378.9 million euro) loan guarantee scheme in support of micro, small and medium-sized enterprises (MSMEs) in Serbia, the government in Belgrade said on Tuesday.
The agreement was signed with four banks - Banka Intesa Sanpaolo, Addiko Bank, ProCredit Bank and Raiffeisen Bank, the government said in a statement.
Initially, 272 million dollars will be made available as working capital to Serbian MSMEs with a focus on agriculture, underdeveloped areas, sustainable development, startups and companies led by women, finance minister Sinisa Mali said, as quoted in a government statement.
The loan repayment period will range from six months to ten years.
($ = 0.9471 euro)
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