The European Bank for Reconstruction and Development (EBRD) has provided Banca Intesa Beograd with a €30m credit line for on-lending to small and medium companies across Serbia.
The proceeds of the loan will be used to finance the investments and working capital needs of private businesses with short, medium and longer term loans of up to €2.5m.
Majority-owned by the Intesa Sanpaolo Group, Banca Intesa Beograd is the largest commercial bank in Serbia, with a nationwide network, servicing over 1.4m corporate and retail customers.
The credit line is part of the €100m financing package provided by the EBRD to three of Intesa Sanpaolo Group’s subsidiaries in eastern Europe.
The facility also includes a €20m credit line to Intesa Sanpaolo Bank in Bosnia and Herzegovina and a €50m to CIB Bank in Hungary.