The Serbian government will financially assist all farmers who possess a quality business plan and it has earmarked EUR150 million for loans for this purpose this year, Serbian Minister of Agriculture, Forestry and Water Management Dusan Petrovic said on July 9.

"We have the most favorable loans for farmers and this year we will invest EUR150 million to that end, with EUR100 million more next year," Petrovic said in Velika Plana, near Prokuplje.

The minister stressed that the loans were extremely favorable, and also not intended just for fruit and vegetable growers, but for other agriculturists as well. The payment deadline is seven years, at an interest rate of six percent, with a three-year grace period.

Petrovic also explained that agriculture had the potential to make a substantial contribution to GDP, and that 2011 was a key year for realizing agricultural plans.