Development Corporation Will Support Development Oriented Companies

Slovene Development Corporation (SRD) will have a total of SIT 6.45 billion (US$ 37 million) at its disposal for this year. Seventy percent of the funds will be used for investments into development and the rest for investments in rescue operations. Apart from that fresh capital as financial assistance to companies, there are 8.5 billion tolars' worth of guarantees SRD will be able to grant its companies so that they can take loans with commercial banks, SRD Board Director Bogdan Topic told a news conference on Wednesday. The business plan in addition earmarks a write-off of SRD's old claims amounting to SIT 17 billion originating in the period from 1994 to 1996.

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