Serbia’s Tigar Expects EIB Loan to Boost Production, Exports

Tigar AD, a Serbian rubber maker, said it will receive a 6.7 million-euro ($8.5 million) loan from the European Investment Bank to boost production and exports.

The Pirot, Serbia-based company expects the a 2.7 million- euro tranche of the loan “soon,” with the remaining 4 million euros by the end of March, corporate communications manager Srdjan Stojanovic said today.

The eight-year loan comes with an annual 5.5 percent interest rate and is part of a broader, 250 million-euro arrangement between the bank and the government to support small and medium-sized enterprises in Serbia.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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