May 15 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday it has approved an 8 million euro ($8.7 million) loan to Sparkasse Bank [SAJ:ABSB], the Bosnian unit of Austrian group Steiermaerkische Sparkasse, to help local small and medium-sized businesses (SMEs) become more digitalised and competitive.
The senior unsecured loan has a maturity of three years, including one year of grace period, the EBRD said in a project summary document.
The funding would be provided under the Go Digital programme, which aims to allocate 40 million euro to SMEs in Bosnia via partner banks and is supported with donor funds in the total amount of 9 million euro from the European Union.
Sparkasse Bank's shares have not traded on the SASE in the past year.
($ = 0.920841 euro)
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