The European Investment Bank (EIB) said on April 28 it will provide €30mn to Bosnia’s Intesa Sanpaolo Banka BiH to accelerate the recovery of companies in the country affected by the COVID-19 pandemic.
The funds are part of the EIB financial programme for the Western Balkans dedicated to recovery from the COVID-19 pandemic.
The loan deal, signed between the EIB and Intesa Sanpaolo Banka, will be used for on-lending to companies in the industrial, tourism, agriculture and services sectors, the EIB said.
This operation also supports job creation for young people in Bosnia and Herzegovina through the European Youth Employment and Training for the Western Balkans (EYET) Initiative by encouraging companies to provide employment and vocational training to young people.
Since 2009, the EIB has provided €430mn to the private sector in Bosnia and Herzegovina, which has helped sustain over 90 000 jobs.
Related Articles
Addiko board withdraws backing for RBI takeover bid after NLB raises offer
Addiko Bank's management board has withdrawn its recommendation that shareholders accept Raiffeisen Bank International's (RBI) takeover offer after Slovenia's Nova Ljubljanska Banka (NLB) raised its ... more
S&P upgrades ratings of Freedom subsidiaries to ‘BB-’
S&P Global Ratings has upgraded the credit ratings of several subsidiaries of Nasdaq-listed Freedom Holding, raising ratings on Freedom Finance, Freedom Finance Europe, Freedom Finance Global and ... more
Kazakhstan’s Freedom fintech sets out to emulate and exceed Revolut in Europe
Freedom Holding Corp (Nasdaq: FRHC) is positioning itself to expand deeper into Europe’s financial services market with plans to launch a digital bank in France, backed by a €500mn ($572mn) ... more