EBRD lends Banca Intesa Beograd 15 mln euro under SME Go Green

"Proceeds of the loan will be used for providing sub-loans to eligible [small and medium-sized enterprises] SMEs in Serbia for improving their competitiveness and trade potential via targeted investments in sustainability practices and the adoption of internationally recognised quality standards, scaling up green economy investments and in particular, greening of agribusiness supply chains and promoting more equitable access to climate and other finance to women-led SMEs," the EBRD said in a statement on Thursday.

BIB will aim to deliver 70% of the loan proceeds to Green Economy Transition (GET) eligible projects.

The SME Go Green programme supports SMEs in accessing finance towards European Union and international standards investments. Along with financing, it assists them to access advice and know-how for introducing and implementing such standards and becoming competitive. The programme also seeks to scale up SMEs' investments into GET-eligible technologies, contributing to building a green, low-carbon economy in the Western Balkans.

BIB, Serbia's largest bank in terms of assets, had a market share of 15.6% in total assets, 16.7% in net loans and 16.3% in deposits as of the fourth quarter of 2023, the EBRD noted. BIB has some 3,000 employees and 143 branch offices across Serbia.

($ = 0.936 euro)