Jan. 16 (Bloomberg) -- Tigar AD, a Serbian rubber maker, said it will receive a 6.7 million-euro ($8.5 million) loan from the European Investment Bank to boost production and exports.
The Pirot, Serbia-based company expects the a 2.7 million- euro tranche of the loan “soon,” with the remaining 4 million euros by the end of March, corporate communications manager Srdjan Stojanovic said today.
The eight-year loan comes with an annual 5.5 percent interest rate and is part of a broader, 250 million-euro arrangement between the bank and the government to support small and medium-sized enterprises in Serbia.
--Editor: Alan Crosby
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