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Croatia grants entrepreneurs 578-mln-dollar subsidies

Xinhua, February 20, 2015 Adjust font size:

Croatian government will provide subsidies worth 578.22 million dollars to entrepreneurs to stimulate business activity in 2015.

Croatian Minister for Entrepreneurship and Trade, Gordan Maras, said on Thursday direct grants worth a total of 3.93 billion kunas (578.22 million dollars), of which 88 percent are from Europe Union funds, will go to entrepreneurs and small businesses.

The subsidies, with a minimum of 10,000 kunas and maximum 15 million kunas per sum, will be granted from March this year and a total of 1,300 grants are expected to be distributed, he said.

The measure is a part of the ministry's program "Entrepreneurial Impulse", in which around 2 billion kunas were given through 7,123 individual subsidies between 2012 and 2014. The budget for this year is 4.38 billion Kunas, according to him.

The program has created around 12,000 jobs in Croatia, according to the official.

Maras hoped the subsidies could enable entrepreneurs to have easier access to finances and thus help them do business in Croatia. The subsidies are also aimed at promoting their products and services in international markets. (1 U.S. dollar = 6.80 Crotian Kuna) Endtiem