You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

EBRD considers lending 5 mln euro to UniCredit's Bosnian unit to support SMEs

EBRD considers lending 5 mln euro to UniCredit's Bosnian unit to support SMEs Photo: UniCredit Bulbank

SARAJEVO (Bosnia and Hercegovina), August 10 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is considering providing a senior secured loan of up to 5 million euro ($5.9 million) to Bosnia's UniCredit Bank Banja Luka in support of investments in small and medium enterprises (SMEs).

The loan would be provided under the EBRD's Regional SME Competitiveness Support Programme in two equal tranches and it would be fully guaranteed by the parent, UniCredit SpA, the EBRD said in a project summary on Monday.

The second tranche is uncommitted and its commitment will be at EBRD's sole discretion, the bank noted.

The project will contribute towards supporting SMEs in accessing finance towards EU standards investments and assisting SMEs to access advice and know-how for introducing and implementing EU standards and becoming competitive.

UniCredit Bank Banja Luka is based in the Serb Republic, one of two autonomous entities that form Bosnia. UniCredit Group has another bank in Bosnia, UniCredit Bank Mostar, headquartered in the other entity - the Federation.

($ = 0.8522 euro)

Compare