Komercijalna Banka offers new credit facility of EUR 20 million to SMEs in Serbia

Dutch development bank FMO has signed an agreement with Serbian lender Komercijalna Banka that will see the extension of a 20 million euro ($26.7 million) loan to the Serbian lender to be on-lent to local small and medium-sized enterprises (SMEs), Komercijalna Banka said on Monday.

The goal of the credit line is to stimulate the development of Serbian SMEs by using Komercijalna Banka's extensive branch network to disburse soft-term loans, Komercijalna Banka said in a statement.

With an investment portfolio of 6.3 billion euro, FMO is one of the biggest development banks which finances private sectors in developing countries. Investments focus on companies from the fields of financial services, energy and agribusiness, SeeNews has reported.