January 17 (SeeNews) - OTP Banka Serbia's subsidiary OTP Leasing Serbia said it has signed a 10 million euro ($11.4 million) loan agreement with with the European Bank for Reconstruction and Development (EBRD), aiming to to support investments by small and medium-sized enterprises (SMEs) in the country.
The funds are meant to help SMEs improve production capacities and make their processes compatible with European Union's directives on environment protection, worker protection, and product safety and quality, OTP Leasing Serbia said in a statement last week.
"The project contributes to supporting SMEs in accessing funding for investments that are in line with EU standards and will help SMEs receive advice and knowledge to integrate and implement EU standards and achieve a higher level of competitiveness," the leasing company said.
Last month the EBRD granted a 2.3 billion dinars (19.6 million euro) loan to OTP Banka Serbia, part of Hungarian banking group OTP, meant to facilitate recovery and development of SMEs in economically lagging parts of the Western Balkans country.
($ = 0.8772 euro)
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