The program encouraging the development of entrepreneurship through development projects is implemented by the Ministry of Economy, in cooperation with the Development Fund of the Republic of Serbia. Total available grants for the implementation of the program amount to 600,000,000.00 dinars. Funds earmarked for being lent to business entities under the program amount to 2,400,000,000.00 dinars.

Aim of the program: Support to investments, expansion of business operations, development of exports and involvement of local business entities in the supply chains of large systems.

Who can apply: Eligible to apply for grants and for loans from the Fund are entrepreneurs, micro, small and medium enterprises and cooperatives that are registered in the Business Registers Agency, which submitted their financial statements for the previous two years from the year in which the application is submitted, in which no net losses were presented, and those that meet the requirements of the program. The requirement relating to the submission of financial statements does not apply to entrepreneurs who do not have the obligation to submit these reports (entrepreneurs practicing free book-keeping and those working with lump sums).

 Purpose of the funds:  

-Construction/extension/reconstruction/ renovation /repair /purchase of the manufacturing or business premises (only if they are part of the manufacturing area),

– Purchase of manufacturing equipment (new or used, but not older than five years), including delivery vehicles used for the transportation of one’s own products and other means of transportation involved in the manufacturing process,  

– Purchase of software and other intangible assets,

– Permanent working capital, which may participate up to 20% in total investments.  

Co-financing of the program: Businesses that meet the requirements of the program may be eligible for financial support in the amount of 20% of grants from the value of the investment. The remaining amount of the project value will be financed from the loan extended by the Development Fund.

Deadline for submitting applications: The public call is open until the available funds are not spent.

Further information and documentation are available on http://www.privreda.gov.rs/5857-2/

Source: Ministry of Economy and Coordination Body