EBRD approves EUR 79mn package for Unicredit Bank Serbia.

By bne IntelliNews March 7, 2011
The EBRD has approved a EUR 79mn financial package for Unicredit Bank Serbia in support of local SMEs and medium corporates, the EBRD said in statement on its website. The loan facility consists of a EUR 9mn energy efficiency loan, a EUR 10mn loan to support competitiveness and a EUR 60mn line for small and medium-sized enterprises (SMEs) and medium corporates. The facility aims to provide financing for local private firms to help them overcome current market barriers which continue to put off enterprises from undertaking investments. In times of crisis, many small and medium-sized companies tend to focus on financing needs of their core business rather than upgrades aimed at enhancing their quality, productivity and export potential, the statement read. The EBRD package is expected to help overcome these barriers by demonstrating, for instance, the potential for savings through more efficient use of energy. As recalled, the EBRD has so far invested around EUR 2.5bn in more than 150 projects in Serbia with a total value of some EUR 6bn.
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