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Nov 29, 2023 12:03 EEST
November 29 (SeeNews) - The European Investment Bank (EIB) said on Wednesday that it has signed a 100 million euro ($110 million) credit line with Serbia-based Banca Intesa Beograd to to enhance access to finance for small and medium-sized enterprises (SMEs) and mid-caps and support private sector-led green projects.
"Made available on favourable terms, including longer maturities, the funds will enable companies to address their liquidity and investment needs amid consecutive challenges, while increasing their capacity to generate jobs, scale up and decarbonise their businesses. Overall, this credit line will boost the resilience of the Serbian economy, increase its competitiveness and support employment," the EIB said in a statement.
Part of the credit line will be specifically dedicated to supporting green investments by Serbian companies, such as renewable energy and energy efficiency projects.
"The credit line will enable us to provide long-term finance for investments and liquidity, but also loans to finance green projects in this strategically important segment of the economy, contributing to its vitality and competitiveness, as well as to overall sustainable growth," said Banca Intesa Beograd CEO, Darko Popovic.
Banca Intesa Beograd is a member of Italy-based Intesa Sanpaolo international banking group.
($ = 0.9098 euro)
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