15/02/2010 – SERBIA: EIB SIGNED TWO LOANS TOTALLING 45 MILLION EUROS

BELGRADE, – The European Investment Bank (EIB) signed in Serbia today two loans totalling 45 million euros with two different local financial institutions in support of the projects of small and medium-sized enterprises (SMEs) and infrastructure schemes promoted by local authorities, reports Emportal.The loans are designed to assist Serbia in its efforts to integrate into the European Union. A first finance contract for 25 million euros was signed with Erste Bank Novi Sad. This loan aims at financing SME projects, small and medium-sized infrastructure schemes promoted by local authorities and industrial investments in the fields of the knowledge economy, energy, environmental protection, health and education.The EIB will finance up to 100% of the total project cost for SMEs (with a maximum of 12.5 million per project) and up to 50% for other types of project. A minimum of 70% of the loan will be allocated to SME lending. The EIB also signed an operation for an amount of 20 million euros with KBC Banka with the same features as the one just mentioned. These operations constitute the first direct lending to the two borrowers and represent a major contribution to the development of projects in the respective economic sectors.
Source: Vecchio sito IPA

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