EBRD and Banca Intesa support SMEs in Serbia
The European Bank for Reconstruction and Development (EBRD), which became fully aligned with the Paris Agreement at the start of 2023, secured a comprehensive financing package to Banca Intesa Belgrade (BIB), member of Intesa Sanpaolo Group, with an aim of joint support to the development of the small and medium-sized enterprises (SMEs) in Serbia.
In order to improve access to financing and contribute to the improvement of competitiveness of SMEs, including those operating in economically less developed regions of the country, EBRD provided a loan of up to €100 million to BIB for on-lending to local businesses.
As part of this financial package, BIB also commits to develop the transition plan that includes climate considerations geared towards Paris Alignment, as well as to boost its green investments by investing at least 10 per cent of the funding in projects that are aligned with the Bank’s Green Economy Transition approach.
"I am very glad that the long-term partnership which we nurture with the European Bank for Reconstruction and Development we continue through support for small and medium-sized enterprises, which are particularly vulnerable in the current conditions of global geopolitical and monetary uncertainty, while they are at the same time the most important driver of the economy and the carrier of economic development our country. Thanks to the funds from the new credit line, we will be able to offer them more favourable financing conditions and to contribute to the strengthening of their business by helping them to improve competitiveness on the domestic and European markets. Additionally, with the planned increase in the level of green investments, we will be one step closer to meeting the goals relating to the application of ESG principles, which guide us in accordance with the strategic plan of our parent Intesa Sanpaolo Group, and which, in the field of climate transition, imply the achievement of zero net emissions at the Group level by 2050'', stated Darko Popović, President of the Executive Board of Banca Intesa.