March 15 (SeeNews) - EIB Global, the arm of the European Investment Bank (EIB) devoted to activities outside the EU, said on Tuesday it is extending a credit line for 80 million euro ($85 million) to OTP Group Serbia to be provided to local small and medium enterprises (SMEs).
Serbia's OTP Banka and OTP Leasing will double this amount with their own funds to help SMEs meet their financial needs and fund new investments amid the ongoing crisis, the EIB said in a press release.
"The funds will help SMEs meet their liquidity, employment and investment goals to more quickly adapt to a new, more digital and greener economic landscape," said said Lilyana Pavlova, vice-president responsible for EIB activities in Serbia.
The financing arrangement is in line with the European Commission's Economic and Investment Plan for the Western Balkans, designed to foster sustainable development in the region, the press release reads.
($ = 0.9371 euro)
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