Expansion of the range of services offered in financing of companies and sole proprietors
The European Investment Bank granted to Nova Ljubljanska banka a credit line amounting to 100 million EUR. 'Today the first of two contracts was signed for the amount of 75 million EUR, which will serve for financing of SMEs and projects in the field of environmental protection, infrastructure, health, education and rational use of energy,' said Borut Stanic, Member of the Management board of NLB, upon signing.
The credit line is insured by an annual renewable guarantee of KBC Bank N.V. in favour of the European Investment Bank. The acquired funds will help to give a new impulse to a number of small and medium-sized enterprises. NLB will draw down the line by instalments and will have at its disposal 18 months to use the funds, with the possibility of extension by one year.
As already mentioned, the majority of the funds will be intended to finance Slovenian small and medium-sized enterprises (companies with a maximum of 500 employees, 75 million EUR of assets and majority private share) and projects in the field of environmental protection, infrastructure, health, education and rational use of energy.
The minimum of 10 million EUR will be allocated by NLB to financing of sole proprietors and micro enterprises (companies with a maximum of 250 employees, 27 million EUR of assets or annual turnover of 40 million EUR and with majority private share). This part of the credit line is subsidised by the European Commission within promotion of the development of micro enterprises in accession EU member countries. NLB succeeded in ensuring that these funds can be utilised for this purpose even after Slovenia's joining the EU.
NLB will approve foreign currency loans from the funds of the European Investment Bank with the possibility of their transfer either to the foreign currency or tolar-denominated account of the client. Such loans, which will be offered at the beginning of March 2004, will represent the launch of additional NLB services in financing companies and will differ from other loans provided by NLB in the longer repayment period (up to 12 years and for infrastructure loans up to 15 years) and the possibility of deferment of principal repayment
Nova Ljubljanska banka d.d.
Trg republike 2
1520 Ljubljana, Slovenia