Support for Serbian construction industry

Belgrade, June, 08. 2010 (Serbia Today) - The Serbian government recently adopted a program to support the construction industry of Serbia, worth about 30 billion dinars (about 300 million EUR). Serbian Economy Minister Mladjan Dinkic announced  that the program will be implemented over the next  year and a half and that the government and local administrations should provide three billion dinars for the program. According to him, the remaining 80 percent of the funds for the program shall come from loans by commercial banks. Dinkic said that the program will help construction industry by granting the dinar loans with a maturity of five years and one year grace period and annual interest will be the reference interest of the National Bank of Serbia, plus 2.5 percent. "The program was adopted to promote the recovery of the construction Industry of Serbia which since April last year to April 2010th has experienced import declines from 11.3 per cent, "he said