The European Bank for Reconstruction and Development (EBRD) has agreed a €5m credit line to Ohridska banka, Societe Generale Group, to increase the availability of financing to the real sector in FYR Macedonia.
The proceeds will be used to finance the operations of small and medium-sized enterprises (SMEs) with loans of up to €500,000.
The credit line will be complemented by a technical cooperation programme, funded by €500,000 grant funds from the EBRD’s Western Balkans Fund, to strengthen SME lending procedures of Ohridska banka.
Established as an independent local commercial bank in 1995 based in Ohrid, Ohridska banka became a part of the Societe Generale Group in 2007. It is currently the fourth largest bank in FYR Macedonia.
The EBRD loan will support Ohridska banka’s strategy to further expand its operations throughout the country and become a significant national player.