IFC mulls EUR 50 million loan to Serbia's Komercijalna Banka

The International Finance Corporation (IFC), part of the World Bank Group, is considering lending EUR 50 million ($63 million) to Serbia's Komercijalna Banka to support its growth in housing finance for low-income population groups, data from the IFC website indicated.

The seven-year loan would have a two-year grace period, an overview of the project posted last week on the IFC website indicated.

The proposed project is expected to be reviewed by the IFC board on October 1st.

Belgrade-based Komercijalna Banka is the largest locally-owned bank in the Serbian banking sector, ranking second in the value of total assets. Operating since 1971, it is a universal bank offering a full range of banking services to its more than 750,000 clients in retail, corporate, small business and municipal sectors.