Intesa Sanpaolo to set aside one billion euros for SMEs in Western Balkans
International banking group Intesa Sanpaolo, the parent group of Banca Intesa, intends to provide credit facilities for a total of EUR 1 billion through its network of banks in Serbia, Croatia, Albania, Slovenia and Bosnia-Herzegovina to SMEs in the Western Balkan area involved in the Belt and Road Initiative in South Eastern Europe. The Belt and Road Initiative (New Silk Road) aims to improve the infrastructure gap with the West thanks to substantial investments, estimated as about USD 11 billion, that are planned in the coming decades.
The loans will amount up to EUR 15 million with a duration of no more than 10 years and will be used to finance purchases of plants, machinery, equipment or vehicles, as well as for the purchase, construction, expansion and renovation of industrial facilities and investments in intangible assets for infrastructure projects of the Belt and Road Initiative.
Given the potential of entrepreneurs and SMEs to generate economic growth and stimulate job creation, Banca Intesa has always been strategically dedicated to providing active contribution to the development of this segment of the economy through its own offer of loans for liquidity, working capital, investments and energy efficiency, its participation in the state subsidised programme by the Government of the Republic of Serbia, as well as through favourable credit lines from international financial institutions.
As the result, Banca Intesa recorded a 5% increase in its portfolio of loans for SMEs and entrepreneurs in the first four months of 2016 compared to the same period of last year, while at the same time significantly improving the quality of assets. In the same period, the bank disbursed EUR 181 million in new loans for SMEs and entrepreneurs, providing important contribution to the further development of economic activity in the country.
26.05.2016
International banking group Intesa Sanpaolo, the parent group of Banca Intesa, intends to provide credit facilities for a total of EUR 1 billion through its network of banks in Serbia, Croatia, Albania, Slovenia and Bosnia-Herzegovina to SMEs in the Western Balkan area involved in the Belt and Road Initiative in South Eastern Europe. The Belt and Road Initiative (New Silk Road) aims to improve the infrastructure gap with the West thanks to substantial investments, estimated as about USD 11 billion, that are planned in the coming decades.
The loans will amount up to EUR 15 million with a duration of no more than 10 years and will be used to finance purchases of plants, machinery, equipment or vehicles, as well as for the purchase, construction, expansion and renovation of industrial facilities and investments in intangible assets for infrastructure projects of the Belt and Road Initiative.
Given the potential of entrepreneurs and SMEs to generate economic growth and stimulate job creation, Banca Intesa has always been strategically dedicated to providing active contribution to the development of this segment of the economy through its own offer of loans for liquidity, working capital, investments and energy efficiency, its participation in the state subsidised programme by the Government of the Republic of Serbia, as well as through favourable credit lines from international financial institutions.
As the result, Banca Intesa recorded a 5% increase in its portfolio of loans for SMEs and entrepreneurs in the first four months of 2016 compared to the same period of last year, while at the same time significantly improving the quality of assets. In the same period, the bank disbursed EUR 181 million in new loans for SMEs and entrepreneurs, providing important contribution to the further development of economic activity in the country.
