Canadian state bank helps Serbia - 20 million euros for export and investment in agricultural sector

Canadian state bank EDC (Export Development Canada) will provide a financial support of about 20 million euros for the export and investing in the agricultural sector of Serbia, Agropress quotes.

Regional Manager for the Eastern Mediterranean and Baltic Countries at the EDC Burak Aktas, who has been staying in Serbia for few days, said that to the representatives of the Ministry of Agriculture, Forestry and Water Power Engineering and banking and economy sectors.

Aktas spoke to Minister Sasa Dragin and other representatives of the agribusiness sector of Serbia about the possibilities of provision of a credit line that would provide a financial support to the cooperation between Canadian and Serbian companies in the field of exchange of goods, investments, as well as transfer of Canadian know-how and technology in that field.

He announced that the EDC would provide the financial support by opening a credit line through one of the banks that were already present in the market of Serbia.

According to his words, the value of the financial support will be about 20 million euros in the first year, with the possibility of extension of the arrangement.

Export Development Canada cooperates with 8,300 Canadian firms and their branch offices in 200 countries world wide, and the value of its annual volume of investment amounts to about 90 billion Canadian dollars.