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Nov 09, 2023 10:12 EEST
November 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it has approved the provision of a senior secured loan of up to 7 million euro ($7.5 million) to Bosnia and Herzegovina's Raiffeisen Bank BiH [SAJ:RFSN] to back local small and medium-sized enterprises (SMEs).
The funds will be used for on-lending to SMEs for improving their competitiveness and trade potential via targeted investments in sustainability practices and the adoption of internationally recognised quality standards, the EBRD said in a project summary document on Wednesday.
The loan, provided under the FIF SME Go Green Programme, is expected to increase local green economy investments and green agribusiness supply chains, as well as promote more equitable access to climate and other finance to women-led SMEs.
The bank will aim to deliver at least 70% of the proceeds to Green Economy Transition (GET) eligible projects, the EBRD said.
Raiffeisen Bank BiH is the second largest bank in Bosnia with a market share of 13.6% in assets and 12.2% in loans as of the end of 2022.
($ = 0.933846 euro)
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