November 29 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is considering providing a senior unsecured loan of up to 7 million euro ($7.3 million) to NLB Banka Pristina (NLBP) to help small and medium-sized enterprises in Kosovo improve their competitiveness.
The proceeds of the loan will be used towards building a more competitive financial sector by enhancing NLBP's lending to local privately owned SMEs in Kosovo, with a focus on regional outreach and attraction of new clients, the EBRD said in a project summary document on Monday.
The loan will be provided in a single tranche under the Financial Intermediaries Framework (FIF) for on-lending to local SMEs. The project contributes to the objectives of the FIF, supporting competitive and resilient transition impact qualities, the EBRD noted.
NLB Banka Pristina is the second largest bank in Kosovo. Through its network of 34 branches/sub-branches and 463 employees, NLBP serves more than 347,000 clients.
($ = 0.964 euro)