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EBRD, BIB ink 72 mln euro boost for Serbian SMEs

Jul 9, 2024, 10:10:33 AMArticle by Iskra Pavlova
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July 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it has signed a 72 million euro ($78 million) financing package with Serbia's Banca Intesa Belgrade (BIB), part of Italy's Intesa Sanpaolo, to improve the competitiveness of local businesses and promote the country's green transition.

EBRD, BIB ink 72 mln euro boost for Serbian SMEs
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The package includes three components. The first is a risk-sharing framework of up to 50 million euro to help BIB manage exposure to large and small enterprises, the EBRD said in a statement on Monday.

The second component is a 15 million euro loan under the SME Go Green Programme to support sustainability and green investments for small and medium-sized enterprises (SMEs).

The package also includes a 7 million euro senior loan under the Western Balkans Women in Business Programme to finance women-led SMEs.

"The EBRD’s risk-participation mechanism will help Banca Intesa manage capital and risk concentration, thereby promoting credit growth for the benefit of the real economy, and the SME Go Green Programme and Western Balkans Women in Business Programme Phase II credit lines will ensure women's economic inclusion and scaling up of green economy investments," EBRD president Odile Renaud-Basso said in the statement.

The EBRD has so far invested more than 9 billion euro through 355 projects in Serbia, focusing on supporting private sector competitiveness, green energy transition and sustainable infrastructure.

($ = 0.923 euro)

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