Podgorica (MINA-BUSINESS) - Euromarket bank said on Wednesday it had approved five loans to finance small and medium companies worth 17,000 euros on the average. The credits are granted for periods over one year with a 17 percent annual interest. They were approved within the scope of a 1.0 million euro credit line which was provided by the German bank for reconstruction KFW. KFW, which signed its agreement with Euromarket bank on March 25, manages the European fund for small and medium companies of over 7.0 million euros on behalf of Germany, Switzerland and the European Agency for Reconstruction. Montenegrin private firms with less than 50 employees and firms which have been up to 80 percent privatised are eligible to apply for a credit which cannot exceed 50,000 euros. The firms do not need a business plan. The funds cannot be used to finance production or trade of arms, alcohol, tobacco, wild animals, radioactive substances or medicines, real estate deals and currency speculations.