SARAJEVO (Bosnia and Herzegovina), October 18 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is providing a loan of up to 5 million euro ($5.8 million) to Bosnia's Sparkasse Bank for on-lending to local small and medium enterprises (SMEs).
The proceeds will be used for investments that will help SMEs improve their competitiveness and comply with EU technical standards, the EBRD said in a statement on Friday.
The loan to Sparkasse Bank is provided through the SME Competitiveness Support Programme, a joint initiative by the EBRD and the EU. It will be secured by international sovereign bonds.
At least 60% of the loans will be used to support the green transition, the EBRD added. Borrowers can also benefit from grants of up to 15% of the total loan amount for the successful implementation of their projects, provided by the EU.
($ = 0.8641 euro)
Sparkasse Bank d.d. Sarajevo is among the biggest banks in SEE, for more reference take a look at Top 100 banks