EBRD provides new EUR 30 million loan facility to Banca Intesa for on-lending to SMEs

Serbian lender Banca Intesa said on Tuesday that it had received a 30 million euro ($38.7 million) loan from the European Bank for Reconstruction and Development (EBRD) for supporting SME projects in Serbia. The funds will be disbursed in the form of revolving loans for working capital and investment loans with the maximum repayment period of five years and a one-year grace period, Banca Intesa said in a statement on its website.

- Small and medium enterprises will be a key driving force behind the economic recovery of our country and the main generator of employment and growth in exports, which is why we offer them full support - the corporate division director of Banca Intesa, Darko Popovic, said explaining the reasons behind the bank's endeavors.

The EBRD has approved 84 million euro in credit lines to Banca Intesa until now.