UniCredit Group: We will resume implementation of Viennese initiative

- It is important to continue approval of the loans in the region and implementation of Viennese initiative - UniCredit Group, which also operates in Serbia, announced.

The UniCredit Group's Head of CEE Strategic Analysis, Debora Revoltella, said yesterday (January 19, 2010), on the first day of the Euromoney "CEE Forum" in Vienna, that the Viennese initiative represented very important forum for coordination between banks and the state.

- My opinion is that it is very important that it stays in effect - said Debora Revoltella.

She said after the panel discussion on the Viennese initiative that the banks' stay in the markets in central and east Europe was not endangered any more.

- We are definitely staying in the region to work together - Ms. Revoltella pointed out.

According to her words, it is now necessary to face the new challenges of further implementation of the Viennese initiative.

- The new challenges are the regulations governing approval of loans in foreign currency, the issues that concern the approval of new loans and development of new forms of credit guarantees - Ms. Revoltella estimated.

Serbia was the first to reach the agreement with the headquarters of central foreign banks in March 2009 in Vienna on maintenance of the same level of crediting as in 2008 prior to 2010. The Agreement within the framework of the Viennese initiative was also signed by the other countries of the region, including Romania and Bosnia and Herzegovina.