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EIB inks agreement for €110M investments in Serbian SMEs

18 October 17 - RE+D Magazine
EIB inks agreement for €110M investments in Serbian SMEs

COMPANIES

ETAD.A.E.

Public entity - GREECE

Solum Property Solutions

Consultant - GREECE

IBI Group

Consultant - GREECE

Savills

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
The European Investment Bank (EIB) has signed four loans totalling €110m in Serbia with the Serbian banking and leasing subsidiaries of Intesa Sanpaolo and Société Générale.

 

These loans will support projects by small and medium-sized enterprises (SMEs) and infrastructure schemes by local authorities.

They are the initial tranches of a total of €190m in credit lines already approved by the EIB to support the Serbian economy together with the two banking groups.

The loans are provided under the EU Pre-Accession Facility which is aimed at assisting Serbia in its efforts to integrate into the European Union.

In the current environment, the operation will increase the availability of funding for SMEs while reducing overall financing costs.

The EIB credit line will also finance projects promoted by midcaps and other final beneficiaries in the areas of the knowledge economy, energy, environmental protection, industry, health, education and services.

€30m in loans will be managed by Banca Intesa Beograd and €20m by Intesa Leasing Beograd, constituting the first two tranches of a €80m credit line.

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