Small businesses in Serbia will benefit from greater access to finance thanks to a new €40 million EBRD credit line for Erste Bank Serbia.
The funds will be on-lent to small and medium-sized enterprises (SMEs) to increase their growth and development on local and international markets. Erste Bank will offer companies a wide range of products and services, including investment and working capital loans as well as revolving facilities.
Henry Russell, EBRD Director for Financial Institutions in the Western Balkans, Ukraine and Moldova, added: “Erste Bank in Serbia has been our partner since 2012 and we are delighted to further deepen our cooperation. The lender is committed to increasing its SME portfolio and has a dedicated team to do so. We are pleased to be able to provide fresh financing and support this important effort.”
The EBRD is a leading institutional investor in Serbia. The Bank has invested more than €5 billion across 230 projects in the country to date. The Bank is supporting private sector development and the transformation towards a green economy and investing in infrastructure to boost connectivity in the Western Balkans region.
Original source: EBRD
Published on 13 June 2019
