EIB Lending OTP Group Serbia EUR 80 mln to Support SMEs

World

EIB Global, the arm of the European Investment Bank (EIB) devoted to activities outside the EU, said on Tuesday it is extending a credit line for EUR 80 million OTP Group Serbia, the local unit of the Hungarian bank, to be provided to local small and medium enterprises (SMEs).

Serbia's OTP Banka and OTP Leasing will double this amount with their own funds to help SMEs meet their financial needs and fund new investments amid the ongoing crisis, the EIB said in a press release.

The financing arrangement is in line with the European Commission's Economic and Investment Plan for the Western Balkans, designed to foster sustainable development in the region, the press release reads. 

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