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Additional 100 million euros for entrepreneurs and SMEs

The European Investment Fund and Banca Intesa have extended the guarantee agreement under the EU COSME program for the competitiveness of small and medium-sized enterprises (SMEs).

The top-up agreement will enable Banca Intesa to support a further 2,200 SMEs and entrepreneurs with EUR 100 million more in loans with substantially reduced collateral requirements following the successful disbursement of EUR 60 million in lending under a guarantee agreement signed in December 2016.

The European Investment Fund and Banca Intesa have extended the guarantee agreement under the EU COSME program for the competitiveness of small and medium-sized enterprises (SMEs).

The top-up agreement will enable Banca Intesa to support a further 2,200 SMEs and entrepreneurs with EUR 100 million more in loans with substantially reduced collateral requirements following the successful disbursement of EUR 60 million in lending under a guarantee agreement signed in December 2016.

Banca Intesa was the first bank in the Serbian market to launch the implementation of the COSME program. Within less than six months of program implementation in Serbia, the bank supported around 1,300 SMEs and entrepreneurs in the country.

The program is running from 2014 to 2020 with a total budget of EUR 2.3 billion.

 

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