Eurobank and EBRD signed a bilateral agreement
10 April 2019.
Eurobank and EBRD ink a credit line agreement for financing small and medium enterprises
Eurobank and the European Bank for Reconstruction and Development (EBRD) signed a bilateral agreement today for a EUR 20 million credit line for financing the Republic of Serbia’s small and medium enterprises.
Eurobank will be approving the funds for small and medium enterprises’ investments both in permanent working capital and in fixed assets, with a view to furthering growth and development on the local and international markets. The agreement was signed by Eurobank Executive Board President Slavica Pavlović and EBRD Director for Financial Institutions in Western Balkans, Belarus, Moldova and Ukraine Henry Russell.
“The credit line will enable a more even distribution across Serbia’s regions by directly allocating finance to areas outside Belgrade with a view of supporting the growth and development of SMEs in the entire country”, said Slavica Pavlović, President of Eurobank’s Executive Board. The small and medium enterprises will be able to use credit funds for a long term for new projects planned for the upcoming period and worth up to two million euros per project.
Henry Russell, EBRD Director for Financial Institutions in Western Balkans, Belarus, Moldova and Ukraine, said: “We are delighted to expand access to finance for Serbian SMEs with this new credit line to Eurobank. Eurobank has been our long-standing partner and a member of the EBRD’s Trade Facilitation Programme since 2011 and we are pleased to strengthen our cooperation.”
Eurobank continually invests in financing small and medium enterprises - in the last four years, the bank invested more than 650 million euros in this segment of the Serbian economy. Entering an agreement with a leading international institution such as the EBRD confirms Eurobank strategic focus on ensuring long-term support to the economy.