Serbia’s Erste Bank, KfW partner in 10 mln euro loan for SMEs, energy efficiency

At least 50% of the agreed amount will be disbursed for energy efficiency as long-term loans with fixed interest, while the rest will be used for financing micro, small and medium sized enterprises, Erste Bank said in an emailed statement adding that the funds for energy efficiency will be also at the disposal of SMEs and individual clients.

Erste Bank is planning to disburse the funds during the next year.

“Financial support of SMEs in Serbia is very important for stabilization of the economy and creation of jobs,” KfW financial unit director for southeast Europe and Turkey, Ulrike Lassmann, said at the signing ceremony. Measures for increasing energy efficiency are especially important for a country that has to import energy, she added.

As of the third quarter this year Erste Bank has increased its portfolio of loans to companies by 28.1% compared to the previous year, while loans to households and micro customers increased by 10.4%.

($=0.7756 euro)