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EBRD approves EUR 20 mln loan to Banca Intesa Belgrade for on-lending

The European Bank for Reconstruction and Development (EBRD) said it has approved a senior unsecured loan of up to EUR 20 million to Serbiaʼs top lender, Banca Intesa Belgrade (BIB), for on-lending to companies with increased liquidity needs amid the COVID-19 pandemic. 

"The project will contribute to ensure resilience and preserve competition in Serbiaʼs financial sector. The facility will help BIB to maintain the full level of its operations, remain an effective market player during the COVID-19 pandemic (resilient) and will enable BIB to continue commercial lending in line with comparable banking sector participants (competitive)," the EBRD said in a statement.

The financing will also allow Banca Intesa Belgrade to continue lending to eligible SMEs in Serbia, it added.