The executive has announced the approval of a decision regulating the conditions for using compensation funds. The existing credit line, managed by the Development Bank, will serve to provide capital for the purchase of unprocessed rice and the wine grape variety Vranec.
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“We are taking this measure before the main procurement phase begins, a period during which companies face high financial needs for securing raw materials, the revenue from the sale or processing of which comes at a later stage,” the announcement states.
The objective of this instrument is to establish a sound financial base so that the procurement process proceeds without delays and the delivered products are paid within the specified deadlines. For this purpose, resources from the existing credit line, as well as free liquidity managed by the Development Bank, are made available. The total amount of funds reaches 793,481,723 denars, which corresponds to approximately 10.1 million euros. Of this total, 240 million denars are allocated for securing unprocessed rice, while 553,481,723 denars will be used for purchasing wine grapes of the Vranec variety.
Applications for each of these two allocations will be reviewed on a first-come, first-served basis. According to the rules, the maximum loan amount for an entity purchasing Vranec grapes is up to 130 million denars, while for unprocessed rice the limit is 30 million denars.
As for deadlines, the credit for rice must be repaid within six months, while for grapes this period extends to nine months. A three-month grace period is provided for both lines, with payments made in quarterly installments. The financing terms include a fixed interest rate of 1% per year, with no upfront fees for loan administration, official sources clarify.
