November 24 (SeeNews) - State-run Serbian Development Fund gave the green light to the disbursement of 70 million dinars ($599,651/566,855 euro) financing to 30 start-ups, the Economy Ministry said.
Out of the total, 20 million dinars will represent grant financing and the remainder will consist of loans extended by the Serbian Development Fund, the Economy Ministry said in a statement on Wednesday.
The financing is part of a programme for the support of entrepreneurship under which the state-run development fund grants 30% of financing for the projects. The board of the fund issues a list of approved financing applications once a month, the ministry added.
On Tuesday, the development fund also gave the go-ahead to the lending of funds to 17 companies to support investment and procurement of assets, according to the statement.
Last week, the fund handed contracts worth a combined 80 million dinars to 116 participants in a project for delivering support to beginners who want to launch their own business.
(1 euro = 123.465 dinars)