The Slovenia Times

Sberbank gets first loan from Fund of Funds


Established in November 2017 by the Economy Ministry, the FOF is meant to optimise the management of an expected EUR 253m of refundable EU cohesion funds in the 2014-2020 financial perspective by 2023.

In addition to research, development and innovation projects, the fund also funds SMEs and projects related to sustainable economic growth and development, energy efficiency and urban development.

SID said that Sberbank, which has been picked on the basis of a call for applications, would provide loans of between EUR 10,000 and EUR 10m for investments in tangible and intangible fixed assets by companies, sole proprietors and start-ups.

In addition to a favourable interest rate, the main advantages of the loans are maturity of up to nine years, moratorium on the repayment of principal of up to three years, and favourable insurance conditions. Sberbank will not charge loan approval and management costs.

SID chairman Sibil Svilan said at Wednesday's signing of the deal that "SID and Sberbank want to actively encourage investments in fields important for boosting the competitiveness of the Slovenian economy and sustainable development."

Sberbank chairman Gašpar Ogris-Martič added that the the FOF product would enable the bank to finance investments of companies in their further development in the coming years.


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