New EUR 20 million for SMEs in Serbia through agreement between EBRD and Addiko Bank

The European Bank for Reconstruction and Development (EBRD) and Addiko Bank continue to cooperate in providing support to the development of small and medium companies through a new long-term loan agreement worth EUR 20 million.

The new loan is the third project between the EBRD and Addiko Bank Serbia, the bank announced.

Henry Russell, EBRD Director, Financial Institutions for the Western Balkans, said that the continuation of this successful cooperation was very important for the strategic development of the competitiveness of the SME sector as a main driver for the local economy.

– We are expanding our cooperation with Addiko Bank because we are very satisfied with the results we have achieved. The EBRD and Addiko Group are developing partnership projects in other countries in the region as well, which have been rated very well, especially since the EBRD has been present in the ownership structure of Addiko, that is, since 2015 – Russell said.

Vojislav Lazarević, Chairman of the Executive Board of Addiko Bank a.d. Beograd, underlined that SMEs report constant growth and development and emphasized that the EBRD continues to operate with their bank in Serbia, but also with the entire Addiko Group as one of the leading banks in south-eastern Europe.