The European Bank for Reconstruction and Development (EBRD) has approved a new 25 million euro loan to Erste Bank in Serbia to support the resilience of small and medium-sized enterprises (SMEs), it was announced today.
“The loan will provide short-term liquidity to Erste Bank’s clients and help mitigate the negative effects of the Covid-19 virus pandemic. It will also support the country’s rapid economic recovery and strengthen its resilience in the medium and long term,” Erste Bank said in a statement.
The President of the Executive Board of Erste Bank, Slavko Carić said that he was satisfied that the bank would be able to offer small and medium enterprises, key drivers of the Serbian economy, financing under favorable conditions and thus help them overcome current challenges and continue to develop their business.
The EBRD is the leading institutional investor in Serbia, where it has invested more than 6.8 billion euros in 293 projects. The bank’s focus in Serbia is on developing the private sector, improving public utilities and facilitating the country’s transition to a green economy, Beta reports.
