EBRD provides RSD2.9bn loan to Eurobank Serbia

By bne IntelliNews September 14, 2021

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 local Eurobank Serbia.

The EBRD is extending a RSD2.9bn (€24.7mn) to Serbia for on-lending to local SMEs. The credit line 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.

Furthermore, the credit line will strengthen access to local currency loans for SMEs in Serbia, a country where euro loans represent more than 60% of the banking sector loan portfolio.

“We are pleased to continue our cooperation with Eurobank Serbia and to extend jointly this new credit line that will support the recovery and development of local businesses. Increasing the availability of our financing in the local currency dinar will substantially benefit local borrowers as they are no longer exposed to exchange rate vulnerabilities. This will also contribute to strengthening the confidence in the domestic financial system,” said Charlotte Ruhe, managing director Central and South Eastern Europe, at the EBRD.

The EBRD is a leading institutional investor in Serbia, having invested more than €6.7bn across 289 projects in the country to date.

Related Articles

EBRD and EU help furniture manufacturer in Serbia to invest in modern equipment

Furniture manufacturer Novi stil from Jagodina in Serbia has received a loan to buy three new machines from the European Bank for Reconstruction and Development (EBRD) and the EU, the EBRD announced ... more

Serbian official defends timing of 5G auction

A regulatory framework setting the pre-conditions for launching public bidding for the allocation of 5G frequencies in Serbia exists, stated Vladana Radisavljevic Djordjevic, the head of the Group ... more

Serbia earmarks €177.6mn for development of digital economy, innovation

The Serbian government plans to carry out 35 projects worth €177.6mn to increase the availability of financing for innovative companies, development of digital infrastructure and investments in ... more

Dismiss