SARAJEVO (Bosnia and Herzegovina), December 1 (SeeNews) – The European Investment Bank said it is lending 110 million euro ($166 million) in three separate loans to boost Bosnia’s economy and support the country's recovery efforts.
The EIB is providing 50 million euro via Intesa Sanpaolo Banka for small and medium sized enterprises (SMEs) and priority projects, a further 50 million euro via Bosnia’s Serb Republic Investment-Development Bank for SMEs and local infrastructure projects, and 10 million via Bosnian firm LOK Microfinance for SMEs, including start-ups, the bank said in a statement on its website.
“These three operations constitute a major contribution to the development of projects in those economic sectors not adequately supported by financial services,” the EIB said.
It added the loans will also make funds available to a vast platform of small and micro-sized enterprises to the benefit of an important section of the local economy.
"We are very proud to be able to support the economic recovery of the country, both through traditional operations in favour of local SMEs and innovative loans such as the one in favour of microcredit " said Dario Scannapieco, EIB Vice-President responsible for operations in Italy, Malta and the Western Balkans.
($=0.6636 euro)