March 30 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it will provide a loan of up to 100 million euro ($109 million) to Serbia-based Banca Intesa Beograd for on-lending to small and medium-sized enterprises (SMEs).
The funds will contribute to increasing the competitiveness of SMEs, including in economically less-developed regions of the country, the EBRD said in a press release.
As part of this financial package, Banca Intesa Belgrade is committing to develop a transition plan that includes climate considerations geared towards the Paris alignment, the EBRD said.
Banca Intesa Beograd, a member of Italy's Intesa Sanpaolo Group, operates 146 branches in Serbia, providing retail and corporate banking services with total assets of over 7.1 billion euro.
($ = 0.9194 euro)
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