EUR 5.2mn for investment projects
Mlađan Dinkić signed Friday contracts with 18 domestic and foreign companies on distribution of irreversible funds.
Saturday, 21.07.2007.
15:23
EUR 5.2mn for investment projects
“Irreversible funds were given to companies that provided appropriate banking guarantees, which means that if a company is bound by the contract to employ 300 new workers, and employs 200 instead, it will have to return the funds it already received, plus interest,” Dinkić explained.Irreversible funds were distributed as part of the Serbian Investment and Export Agency (SIEPA) program for encouraging investments.
SIEPA will exercise strict control over spending of allocated funds, as all 18 companies are obligated to submit progress reports on their projects, the government reported on its web site.
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