Credit Guarantee Fund SERDA: The Government of the Sarajevo Canton subsidizes part of interest cost with 600,000 KM to small business entities with their seat in the Sarajevo Canton

English

Based on the Implementation Plan of the Small Business Development Program and the Decision on Applying the Program of Expenditure of Funds with the allocation criteria for the "Support to the Development of Small Business" for this year, the Government of the Sarajevo Canton has enabled beneficiaries of credits from the Credit Guarantee Fund of the Sarajevo Regional Development Agency - SERDA subsidizing part of interest rates on approved credit facilities.

The right to award incentive grants for interest subsidies on this basis is realized by small business entities defined in Article 5 of the Law on the Promotion of the Small Business, which have their seat in the Sarajevo Canton and regularly serve their obligations. The Government has allocated funds in the amount of 600,000 KM for this purpose by a special decision and they will be implemented through the Sarajevo Regional Development Agency - SERDA.

The amount of subsidized interest rates is 3 per cent annually, and the difference between the amount of the regular interest rate for approved credit facilities will be the creditor’s obligation. The rights and obligations between the Sarajevo Canton and the Ministry of Economy and the Sarajevo Regional Development Agency SERDA, based on the said decision, will be regulated by a special contract.