Business News

SID Bank Provided EUR 400m in Loans in First Half of 2011

Ljubljana, 22 September (STA) - The state-owned SID export and development bank provided direct or indirect funding for 663 Slovenian companies with EUR 400m in loans in the first half of 2011. Some 80% or 526 of them were small and medium enterprises (SME), the bank wrote on Thursday.

Loans for boosting entrepreneurship were given to 336 of the SMEs and the remaining 190 got loans as incentive for environmental, energy, export, research and development projects.

The largest share of the loans, 47% or EUR 187m, was given as aid to companies for a breakthrough on foreign markets, while the SID bank gave 30% of the loans or EUR 155m as aid to SMEs.

The bank provided EUR 66m in loans for environmental and energy projects in the first six months of the year, EUR 7m in loans for investments in research, development and innovations, and EUR 25m for regional development and infrastructure.

The state-owned bank has been offering increased financing to Slovenian businesses since the beginning of the economic crisis, providing companies and banks with long-term financial sources, which have become scarce due to the crisis.

The bank's loans are focused on deals and projects with high added value and a contribution to sustainable development of the Slovenian economy.

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