Deputy Prime Minister and Minister of Science and Technological Development Bozidar Djelic said today that Tigar Corporation will get at least €12 million from a €250 million loan of the European Investment Bank (EIB) for new investment and new jobs.

After a meeting with the corporation’s management and a tour of the production plants, Djelic specified that the EIB loan is being negotiated and it is intended for exporters.

This will help Tigar to complete its projects, especially in the field of recycling, and to hire 200 new workers. In this way, significant exports will be achieved and the volume of total trade will reach €100 million in two to three years’ time.

The Deputy Prime Minister underlined that the objective is to support quality domestic firms that will penetrate new markets by helping them work in the same conditions as their competition.

He specified that the EIB loan will not be given to companies for liquidity, but for investment. Another two companies that might get the loan are the Copper and Aluminium Rolling Mill in Sevojno and the Jaffa biscuit factory in Crvenka.

All those who can boost Serbia’s exports will get support from this loan, Djelic affirmed and added that the results that Tigar has achieved in the last two years are very encouraging.

Djelic also visited Nis today, where he signed a Memorandum on the construction of a scientific and technological park in this city with Head of University of Nis Miroljub Grozdanovic and Nis Mayor Milos Simonovic.

Djelic specified that €12 million has been set aside from an EIB loan for the construction of the park, which is only the first step of support to the project.

The park will be situated near the Faculty of Electronic Engineering, at the existing sections of the faculty that have not been completed, but it might be expanded later to terrain that is currently owned by the Serbian Army.

Source Serbian Government