Banca Intesa, member of the international banking group Intesa Sanpaolo, and the German development bank, KfW, have signed a credit line agreement totalling EUR 40 million to support green investments by SMEs, public enterprises, and local governments in Serbia.

The funds from the new credit line will be earmarked for long-term funding of investments in energy efficiency and the use of renewable energy sources, as well as the efficient use of natural resources, specifically their recycling and reduction of harmful emissions with a goal to reduce environmental pollution.

“I am proud of the fact that our long-term partnership with KfW continues by providing additional funds for financing green projects of our clients under favourable terms. In this way, we are contributing to the global sustainability goals we are passionately committed to through the implementation of ESG principles integrated into strategic plans of our parent Intesa Sanpaolo Group. In addition to their implementation in our credit processes, we are focusing on reduction of our own carbon footprint and raising public and companies’ awareness about the necessity to adopt sustainable practices. By doing so, we are dealing with current environmental and social challenges through our direct and indirect impact on the environment,” said Darko Popović, president of the Executive Board of Banca Intesa.

In addition to the favourable loans from this credit line, upon successful completion of the investments, clients will also be eligible for grants amounting to 10 percent of the loan.