EBRD provides RSD 2.9 bln loan to Eurobank Serbia

The EBRD's 2011 Annual Meeting in Astana, Kazakhstan, 20-21 May 2011

The European Bank for Reconstruction and Development is supporting the post-pandemic recovery of the Serbian economy by securing financing for small and medium-sized enterprises (SMEs), in cooperation with local partner banks, the EBRD said in a statement Tuesday.

The bank is extending RSD 2.9 billion local currency loan (EUR 24.7 million) to Eurobank Serbia for on-lending to local SMEs.

The credit line will help expand lending to private businesses through working-capital lines and investment loans to SMEs, including those operating in economically less-developed regions of the country, the statement said.

Furthermore, the credit line will strengthen access to local currency loans for SMEs in Serbia, a country where euro loans represent more than 60% of the banking sector loan portfolio.

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