EIB grants loans to SME and local self-governments in Serbia through KBC Bank

KBC Bank and the European Investment Bank (EIB) will sign the contract on Wednesday on the loan of 20m EUR for grants to SME and local self-governments in Serbia.

- Additional 20m EUR for the loans to small and mid-sized enterprises and the projects of local self-governments will be provided by KBC Bank from its own sources - the bank announced today.

The plan is that 70% of total amount be used for the loans for SME, while the rest will be granted to local self-governments or some other juristic persons for the projects in the fields of economy, knowledge, energy, environment protection, health care and education, industry, tourism and other services.

The loans with the repayment period of 4 to 12 years will be granted for the SME projects, while the loans with the repayment period of 4 to 15 years and the grace period of 12 months will be approved for the projects of local self-governments.

KBC Bank, which has 71 offices in Serbia, is a member of KBC Group, which is present in 35 markets worldwide and has over 12m clients.