17 Jan 2012
ERJ staff report (LMH)
Pirot, Serbia - Serbian rubber maker Tigar AD is to receive a Euro 6.7 million loan from the European Investment Bank to boost production and exports, a company spokesperson confirmed 17 Jan.
The company expects Euro 2.7 million of the loan soon, with the remaining Euro 4 million by the end of March.
The Pirot, Serbia-based company confirmed that the eight-year loan comes with an annual 5.5 percent interest rate and is part of a broader Euro 250 million arrangement between the bank and the government to support small and medium-sized enterprises in Serbia.
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Report from Business Week
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