EBRD and EU support Serbian small businesses with Banca Intesa Belgrade
Small and medium-sized enterprises in Serbia will benefit from additional access to finance, thanks to a €16.5 million financing package that the EBRD is extending to Banca Intesa Belgrade (BIB), a long-standing partner of the Bank.
€15 million will be extended for on-lending to SMEs for investments that will implement EU standards and improve the competitiveness of local companies on domestic and international markets. In addition to loans, SMEs will also benefit from investment incentives from the European Union equalling 15 per cent of the loan amount, as well as from advice and know-how to introduce EU standards.
A further €1.5 million will be allocated exclusively for the support of women entrepreneurs. This financing is an extension to a previous €10 million credit line which aims to reach a greater number of Serbian business women.
About Banca Intesa
Banca Intesa ad Beograd, member of Intesa Sanpaolo Group, is the leading bank on the local market, a reliable partner of 1.35 million clients, natural persons and legal entities. With a net balance sum of EUR 5.2 billion, EUR 3.7 billion in total deposits and EUR 3 billion in total loans, Banca Intesa is at the helm of the list of the most successful banks in Serbia. Owing to a developed business network comprised of 154 branches all over Serbia, the most developed network of ATMs and POS terminals, as well as a professional team of around 3,000 employees, the bank achieves stable results in all fields of operation, developing its activities in the retail, small business, corporate and local self-government segments.
The EBRD is a leading institutional investor in Serbia. The Bank has invested more than €5 billion across 238 projects in the country to date. The EBRD supports private sector development and the transformation towards a green economy, and invests in infrastructure to boost connectivity in the Western Balkans region.