bne IntelliNews – EBRD grants RSD 2.9 billion loan to Eurobank Serbia
The European Bank for Reconstruction and Development (EBRD) is supporting the post-pandemic recovery of the Serbian economy by securing financing for small and medium-sized enterprises (SMEs), in cooperation with the local Eurobank Serbia.
The EBRD grants an amount of 2.9 billion RSD (24.7 million euros) to Serbia for on-lending to local SMEs. The line of credit will help expand lending to private businesses through working capital lines and investment loans to SMEs, including those operating in economically less developed regions of the country, the EBRD said in a statement. published on its website.
In addition, the line of credit will enhance access to local currency loans for SMEs in Serbia, a country where euro loans represent over 60% of the banking sector’s loan portfolio.
âWe are happy to continue our cooperation with Eurobank Serbia and jointly extend this new credit line which will support the recovery and development of local businesses. Increasing the availability of our local currency dinar financing will greatly benefit local borrowers as they are no longer exposed to exchange rate vulnerabilities. It will also help build confidence in the national financial system, âsaid Charlotte Ruhe, Managing Director for Central and South Eastern Europe at the EBRD.
The EBRD is a leading institutional investor in Serbia, having invested more than 6.7 billion euros to date in 289 projects in the country.