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Aug 24, 2022 13:53 EEST
August 24 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it provide a loan of 25 million euro ($24.86 million) to Serbia's OTP Banka (OTP) for on-lending to small and medium-sized enterprises (SMEs).
The funds will contribute to the expansion of lending to private businesses through working capital lines and investment loans to SMEs, including enterprises operating in economically less-developed regions of the country, the EBRD said in a press release on Tuesday.
The loan is also expected to attract new SME clients and maintain adequate portfolio quality, the bank said.
Furthermore, OTP will aim to allocate up to 10% of the proceeds to Green Economy Transition-eligible projects which are expected to come from investments in renewable energy and energy efficient projects.
The funding contributes to the objectives of the EBRD Financial Intermediary Framework (FIF), supporting the Competitive and Resilient transition qualities, the press release reads.
($ = 1.00560 euro)
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