Fund to Dispense EUR 43.5m for Enterprise Promotion in 2006

Maribor, 20 January

The Enterprise Fund has earmarked SIT 10.412bn (EUR 43.5m) for projects by small and medium sized business in Slovenia, officials told the press in Maribor on Friday.

According to Economics Minister Andrej Vizjak and director of the Enterprise Fund Boris Pfeifer, around half of the total will be used for non-refundable grants to SMEs.
The grants will primarily be made available for the acquisition of new technologies and start-ups, Vizjak told the press.
The rest of the funds will be used for providing cheap loans and guarantees for enterprises, he added.
The Fund expects to back around 275 projects during the year with a total value of around SIT 20bn (EUR 84m).
According to Vizjak, the Fund is looking to launch new services in the future, with focus on supporting start-ups in business hatcheries and establishing a risk capital fund.
Vizjak said that the Enterprise Fund was one of the most important instruments the ministry has at its disposal to directly promote enterprise in the country.
The Fund is to publish the first call to applications for funds following government confirmation of its spending plan, which is expected in the coming days.
Last year the Fund handed out SIT 7bn (EUR 29.2m) in cheap loans and SIT 3.3bn (EUR 13.8m) in grants, endorsing 245 projects by small and medium-sized companies.