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Nov 13, 2017 17:31 EEST
November 13 (SeeNews) - The European Bank for Reconstruction and Development has signed three credit line agreements worth a total of 60 million euro ($70 million) with Serbia's Banca Intesa and Intesa Leasing, to be used for financing citizens and the real economy, the Serbian unit of Italian lender Intesa Sanpaolo said on Monday.
A 30 million euro credit line will be on-lent by Banca Intesa to citizens in the form of favourable housing loans, Banca Intesa said in a statement.
A credit line of 5 million euro will be used to support the Women in Business programme under which the bank has been backing women-led small and medium enterprises (SMEs).
A 25 million euro credit line will be used by Intesa Leasing to support SMEs in the purchase of commercial vehicles, equipment and investment property.
Not including the latest credit lines, Banca Intesa and Intesa Leasing have supported the Serbian economy and citizens with nearly 160 million euro in finance in cooperation with the European Bank for Reconstruction and Development (EBRD) so far, Banca Intesa noted.
Under the credit line for housing loans, Banca Intesa will disburse lending insured with the National Mortgage Insurance Corporation (NKOSK) that comes with a repayment term of up to 15 years and an annual interest rate starting from 2.52% (EIR 3.29%), as well as loans with a repayment period of 15 to 30 years and an annual interest rate starting from 2.58% (EIR 3.12%).
As part of the Women in Business programme, Banca Intesa will provide loans with a fixed annual interest rate of 5.5% (EIR 6.84%) and a ceiling of 500,000 euro.
The bank will issue working capital loans to women-led SMEs with a repayment term of up to 36 months and a six-month grace period, as well as investment loans which are repayable over 37 to 60 months and have a grace period of up to 12 months.
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