EIB Agrees €45M Lending Facility to Serbian Banks to support SMEs

Through two loans totalling €45m, the European Investment Bank (EIB) will support the projects developed by small and medium sized companies (SMEs) and local authorities in Serbia.
In particular, EIB is providing €25m to Erste Bank a.d. Novi Sad and €20m to Piraeus Bank a.d. Beograd to co-finance small and medium-sized projects promoted mainly by SMEs and local authorities in the areas of industry, transport, environmental protection, energy and energy savings, infrastructure including health care and education facilities, services, tourism or other projects enhancing the knowledge-based economy.
EIB Vice-President Dario Scannapieco, responsible for lending operations in Serbia, said that these loans would have the aim to help reduce the impact of the global economic crisis in the country by improving the access of SMEs and local authorities to medium and long-term funds on advantageous financial terms.

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