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€30 Million for SME Financing

Banca Intesa has insured a new €30 million five-year senior loan from the European Bank for Reconstruction and Development (EBRD), intended for its SME clients. Funds from this credit line are approved to the Bank’s clients as revolving loans and working assets loans, investment loans with maximum repayment term of up to five years and the grace period of up to a year.

“Ensuring favourable sources of financing for small and medium-sized enterprises through international credit lines is an additional confirmation of Banca Intesa’s strategic commitment to providing active contribution and incentive for the development of this segment of the domestic economy. Small and medium-sized businesses will be the key driver of Serbia’s economic recovery and the main vehicle of employment and export growth, which is why we need to offer them full support, especially in conditions of extended economic crisis and market changes which this sector is particularly susceptible to”, said Darko Popović, member of the Executive Board and head of the Corporate Division of Banca Intesa.

The new credit line by which the EBRD continues to support small and medium-sized enterprises (SMEs) in south-eastern Europe at a time when recovery from the crisis is still uncertain represents a continuation of cooperation with Banca Intesa in the field of loan financing of this sector. Including the new €30 million loan, EBRD has so far approved credit lines to the Bank in the total amount of €84 million euros.