International Finance Corporation provides loan of 38 million euros to Eurobank EFG

International Finance Corporation (IFC), a member of the World Bank Group, announced today that it had provided a loan of €38 million to Eurobank EFG a.d. Beograd, an EFG subsidiary in Serbia, to enable the bank to extend more loans to micro, small, and medium enterprise in Serbia.

The loan will ensure a continuous flow of credit to smaller companies at a time when businesses continue to face difficulties in obtaining funding for their development, reads the statement issued by IFC.

As it is pointed out, IFC’s support to EFG subsidiaries in Southeast Europe is part of the Joint International Financial Institution Action Plan launched in February 2009.

- A year ago, Eurobank EFG Group, together with international financial institutions, committed to support the economies of the region through the Vienna initiative - said Giorgio Pradelli, General Manager of Eurobank EFG Group and Head of International Activities.

Under the Joint International Financial Institution Action Plan, the World Bank Group, including IFC, the EBRD, and the European Investment Bank, pledged to provide €24.5 billion over two years to support the economies of Eastern Europe through the banking sector.

The financial support of these institutions is exceeding the initial target, as a total of €27 billion had been committed as of end-August 2010.

IFC

Eurobank Direktna a.d. Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

EIB

International Finance Corporation

IFC

World Bank

WB

Eurobank EFG

Eurobank EFG Serbia

small and medium sized enterprises

micro enterprises

SME

Vienna Initiative

Georgio Pradelli

European Bank for Reconstruction and Development

EBRD

European Investment Bank

EIB

Eastern Europe