EBRD to lend EUR 75 mln to UniCredit Bank Serbia for on-lending
Photo by BalkansCat / Shutterstock.com
Business and municipalities in Serbia will benefit from a EUR 75 million loan provided by the European Bank for Reconstruction and Development (EBRD) to UniCredit Bank Serbia for on-lending to clients facing the economic impact of the coronavirus pandemic.
Logo of the UniCredit Bank Serbia on its main branch for the suburb of Zemun in Belgrade. Photo by BalkansCat / Shutterstock.com
The financing will address the liquidity needs of corporates, small businesses and municipalities in Serbia following the sharp slowdown of economic activity after the imposition of public health measures earlier in the year to prevent the spread of the virus.
As a consequence, many companies have experienced a decrease in turnover and profitability leading to payment delays and increased demand for liquidity, EBRD says.
According to the unicreditgroup.eu website of the Italian parent bank, UniCredit Bank Serbia is number four on the Serbian banking market and operates a network of 70 branches throughout the country. Its more than 900 employees serve more than 180,000 customers.
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