September 26 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it will provide a long-term senior unsecured loan of 100 million euro ($96.88 million) to Serbia's Banca Intesa Belgrade for on-lending to small and medium-sized enterprises (SMEs).
The funding will contribute to the expansion of lending to private businesses through working capital lines and investment loans to SMEs, including enterprises operating in economically less-developed regions of Serbia, the EBRD said in a press release last week.
The transaction also supports Banca Intesa Belgrade's growth strategy and diversification of its funding sources.
Banca Intesa will aim to allocate up to 10% of the proceeds to Green Economy Transition-eligible projects which helps economies where the EBRD works build green, low carbon and resilient economies.
($ = 1.03219 euro)
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