EBRD to invest 432m EUR in European economy through UniCredit Group – Serbia to get 45m EUR

European Bank for Reconstruction and Development (EBRD) announced today (May 7, 2009) that it had granted the credit line of 432.4m EUR to "UniCredit" group for financing of economy in Serbia and another seven countries in Central and East Europe.

According to the announcement, UniCredit Bank in Serbia will get 30m EUR for loans to small and mid-sized enterprises, while 15m EUR will be forwarded to UniCredit Leasing.

EBRD’s investment in the banks members of UniCredit Group in Serbia, Croatia, Bosnia and Herzegovina (BIH), Bulgaria, Hungary, Ukraine, Kazakhstan and Kyrgizstan should alleviate the impact of global economic crisis on the region and increase the inflow of loans.

The joint project of EBRD and UniCredit Group will enable supply of mid-term and long-term loans and financial leasing as a support to enterprises and improvement of energy efficiency.

- EBRD and UniCredit, as the largest financial investor in the region and the biggest banking group in Central and East Europe, have the common objective and responsibility to ensure constant inflow of loans for the economy in the region at the time of the crisis – the President of EBRD, Thomas Mirow, pointed out.

EBRD’s investment is a part of the joint obligation of EBRD, WB and EIB to provide more than 24 billion EUR for support to banking sector in the region.

According to the announcement, EBRD has increased projected investments in banking sector in 2009 by 50%, at 3 billion EUR.