You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

EFSE lending 2.3 bln dinars (19.6 mln euro) to Eurobank Serbia

Author Radomir Ralev
EFSE lending 2.3 bln dinars (19.6 mln euro) to Eurobank Serbia Source: Eurobank Srbija

BELGRADE (Serbia), October 8 (SeeNews) - Eurobank Serbia, a subsidiary of Greece's Eurobank Ergasias, said it has signed an agreement to receive a 2.3 billion dinars ($22.6 million/19.6 million euro) credit line from the European Fund for Southeast Europe (EFSE) to support entrepreneurs and micro enterprises.

The credit line will be extended in two equal tranches this month and in May 2022, Eurobank said in a statement on Thursday.

"The credit line will be used to finance permanent working capital and short-term investments. The special significance of this credit line is that it will help the dinarisation of the microcredit market, and thus contribute to the strengthening of the confidence in the domestic financial system," Eurobank board member Dusan Mihailovic said.

The EFSE, an impact investment fund established in 2005, aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region by investing in the success of micro and small enterprises as well as improved living conditions for households.

(1 euro = 117.554 dinars)

Eurobank AD is among the biggest banks in SEE, for more reference take a look at Top 100 banks