Grameen Bank unit or similar microfinance institution to be set up in Serbia.

By bne IntelliNews November 1, 2010
Serbia will either allow Grameen Bank to start operations on the local market or will set up a similar micro finance institution, deputy PM Bozidar Djelic said at a presentation of the Social Business Tour in Belgrade, emg.rs has reported. Djelic said that the National Bank of Serbia (NBS) has given a green light for the establishment of the bank for the poor, which would not threaten the rest of financial system. According to Djelic, the bank would disburse loans worth between EUR 2,000 and EUR 3,000 without requiring collateral. Muhammad Yunus, founder of the Grameen Bank, said the bank would start operation in Serbia if the government secures EUR 6mn in authorised capital.

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