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Aug 14, 2023 15:31 EEST
August 14 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday it has approved a 3 million euro ($3.3 million) loan to Addiko Bank Sarajevo, a Bosnian unit of Austria's Addiko Bank AG, in support of local small and medium enterprises (SMEs).
The funds will be used for on-lending to SMEs, focusing on firms in the regions outside the capital, the EBRD said in a project summary document.
In addition, the project will help in the rollout of a business academy aimed at boosting the management capacity of SMEs across the country.
Addiko Bank Sarajevo is based in the Federation, one of the two autonomous entities forming Bosnia and Herzegovina. Addiko Bank AG also has a unit in the Serb Republic, Addiko Bank Banja Luka.
Last week, the EBRD said it approved a 5 million euro loan to Addiko Bank Banja Luka for on-lending to SMEs.
($ = 0.915246 euro)
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