By NNN-SANA,
Damascus : The European Investment Bank has launched the second phase of financing small and medium projects in Syria with loans ranging from 200,000 and 12.5 million Euro and maximum duration of 12 years.
“We will fund all projects whether they were industrial, tourist or service, except the commercial projects,” chairman of the Financing Unit for the Small and Medium Projects of the European Investment Bank Nizar Ibrahim said in a statement Monday.
The total loan offered by the European Bank covers no more than 50 per cent of the investment cost of any project, and the interest average paid by the beneficiary side will be 7.5 per cent.
The Syrian government has lately signed with the European Investment Bank a contract on funding the second phase of financing the small and medium projects with a budget of 80 million Euro compared to 40 million Euro in the first phase.