EBRD lends EUR 20 mln to OTP Banka Serbia to on-lending SMEs

Banking

The European Bank for Reconstruction and Development said it is extending a loan of RSD 2.3 billion (appr. EUR 20 million) to OTP banka Serbia AD Novi Sad for on-lending to small and medium-sized businesses (SMEs) in Serbia.

The credit line will bolster lending to private businesses in the form of working capital lines and investment loans, in particular, to SMEs operating in economically less-developed areas of the country, the EBRD said in a statement.

The credit line will support the post-pandemic recovery of Serbia's economy and strengthen its resilience in the medium and long term.

It will further increase SME access to local-currency loans in Serbia, where euro loans account for more than 60% of the banking sector's loan portfolio. 

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