Contract signed for two credit lines in "Delta banka", €60m

In “Delta banka”, member of the banking group “Banca Intesa”, a contract was signed between that Italian group and the European Bank for Reconstruction, which approves two credit lines for the development of the local self-government and small and medium enterprises in Serbia, a total worth of €60m. The Vice-Governor of EBRD, Kšištof Ners, stated that this EU bank annually approved €1.6 billion to commercial banks in central European and eastern European countries in transition and that, for the first time, a bank in Serbia – “Delta banka” – received means from EBRD for placement on the domestic market. The Executive Director of “Delta banka”, Slađana Jelić, said that EBRD had provided half of the planned means, while the other half, that is €60m, came from “Banca Intesa’s” own means, thus the total value of the project for the development of local self-government and support to SMEs in Serbia equalled €120m. The means will be spent on the development of local infrastructure, reconstruction of educational and health institutions, the development of rural areas, improvement of conditions in urban regions, realization of projects for environment protection, in the amount of €80m, while €40m will be set aside for capital investment into domestic SMEs. The end-users, who have “the good project and valid security as guaranty for obtaining of loan", will obtain these financial arrangements with unlimited amount, under more favorable terms than the ones present on financial market and without additional expenses for functioning of loan, with repayment perios of 8 – 15 years. (Tanjug)