ASA Bank and Municipality of Novo Sarajevo to sign agreement on subsidized credit line

SARAJEVO, (Patria) - In the International Center for Children and Youth Novo Sarajevo (Kemala Kapetanovića 17), on Wednesday, August 5, 2020, at 11:00 AM, the signing of an agreement between the Municipality of Novo Sarajevo and ASA BANKA DD SARAJEVO is planned. ASA BANKA was selected based on a Public Call for the selection of a bank for the placement of funds through a credit line with subsidized/rebated interest rates/profit margins and loan processing fees by the Municipality of Novo Sarajevo for business entities, with the aim of increasing the current liquidity of business entities affected by the pandemic and the spread of COVID-19.

This is a credit line that will enable entrepreneurs who meet the criteria of the Public Call (which will be issued by the bank), with the subsidy of the Municipality, to obtain financing at a zero percent interest rate from ASA Bank. ASA Bank has provided funds in the amount of 2,500,000 KM for the realization of this line.

The Municipality will subsidize/rebate the interest rate/profit margin and loan processing fees for business entities based in the Municipality of Novo Sarajevo, for short-term loans aimed at increasing the current liquidity of business entities affected by the pandemic and the spread of the COVID-19 virus.

Priority in obtaining incentives is given to business entities that were unable to operate at full capacity during the pandemic and the spread of the COVID-19 virus, and who did not lay off their employees.