EBRD lends 40 mln euro to Serbia’s Banca Intesa to back SMEs

The funds will be disbursed in the form of revolving loans for working capital and investment loans with a maximum repayment of five years and a one-year grace period, Banca Intesa said in a statement on its website.

“Small and medium enterprises will be a key driving force behind the economic recovery of our country and the main generator of employment and growth in exports, which is why we offer them full support,” the corporate division director of Banca Intesa, Darko Popovic, said explaining the reasons behind the banks endeavors.

The EBRD has approved 84 million euro in credit lines to Banca Intesa until now.

($=0.7756 Euro)