The European Bank for Reconstruction and Development (EBRD) has approved a 15 million euros credit line to Bank Intesa for lending to private companies, according to a statement.
Better access to finance is provided for small and medium-sized enterprises (SMEs) in Serbia, thanks to an EBRD loan of 15 million euros to Bank Intesa Belgrade for lending to private companies.
According to the statement, companies will be able to apply for loans for investments in environmental protection, worker safety and product quality and safety in line with EU standards, thereby making the company more competitive.
At least 60 percent of the total loan amount is earmarked for investments in green technology and energy efficiency.
In addition to loans, small and medium-sized enterprises will also be able to benefit from EU-funded grants of 15 percent of the total investment provided by the Instrument for Pre-Accession Assistance (IPA) for Serbia.
The agreement between the EBRD and the Bank of Intesa Belgrade was signed in London during the Investment Summit for the Western Balkans organized by the EBRD.
“The credit line we have signed is a continuation of our long-standing cooperation with the EBRD, which has so far enabled us to provide Serbia’s economy and citizens with credit support totaling around 250 million euros. Thanks to this line, we will be able to facilitate access to small and medium-sized enterprises sources of financing and help them invest in improving production and increasing competitiveness”, said Draginja Djuric, Chairman of the Executive Board of Bank Intesa, Dnevnik reports.
