The European Investment Bank (EIB) and Erste Bank have agreed on a 30 million euro credit line to enable the rapid recovery of small, medium and medium-sized companies in Serbia, in response to the decline in economic activity caused by the coronavirus.
As it is stated, it is the first activity in Serbia within the EIB financial program worth 500 million euros, intended for a quick response to the pandemic and recovery of the private sector in the Western Balkans, which was announced at the EU Summit on the Western Balkans in Zagreb in April 2020.
The credit line will enable Erste Bank to provide loans to companies that have suffered the severe consequences of the pandemic, thus helping them to preserve jobs, maintain liquidity and ensure business continuity.
The loans will be available to companies operating in various sectors heavily affected by the pandemic, such as wholesale and retail trade, hotels, transportation, food and beverage and service industries.
From 2009 until today, the EIB has invested more than 1.8 billion euros in the Serbian economy, which has helped save more than 320,000 jobs, the statement said, Nova reports.
