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Oct 26, 2022 16:02 EEST
October 26 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it will provide a loan of 40 million euro ($40 million) to Serbia's Addiko Bank for on-lending to small and medium-sized enterprises (SMEs).
The funds will contribute to the expansion of lending to SMEs, including enterprises operating in the Serbian regions outside the capital, the EBRD said in a press release.
The loan is also expected to attract new SME clients, with Addiko Bank successfully implementing an SME-focused strategy via its regional branch network.
The funding contributes to the objectives of the EBRD Financial Intermediary Framework (FIF), supporting the competitive and resilient transition qualities, the EBRD said.
Addiko Bank Beograd, a unit of Austria-based Addiko Bank, operates via 37 branches and has a market share of 2.7% in Serbia.
($ = 0.999931 euro)
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