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EBRD and Banca Intesa financing to businesses in Serbia

The EBRD is increasing further the availability of financing to the real economy in Serbia, with a €30 million credit line to Banca Intesa Beograd for on-lending to small and medium enterprises (SMEs). The credit line is part of the €100 million financing package provided by the EBRD to three of Intesa Sanpaolo Group’s subsidiaries in eastern Europe.

The proceeds of the EBRD loan will be used to finance the investments and working capital needs of private businesses operating in Serbia with short, medium and longer term loans of up to €2.5 million.

The EBRD facility offered to Intesa Sanpaolo Group also includes a €20 million credit line to Intesa Sanpaolo Bank in Bosnia and Herzegovina and a €50 million to CIB Bank in Hungary. The investment is part of a joint pledge by the EBRD, the World Bank Group and the European Investment Bank (EIB) to provide over €25 billion in support of the banking sectors in the region and to fund lending to businesses hit by the global crisis.