EBRD and UniCredit provide loans for development of small and medium-sized enterprises

The European Bank for Reconstruction and Development, EBRD, is strengthening the private sector in Serbia by providing loans and leasing finance to small and medium-sized enterprises through local subsidiaries of UniCredit.

The Bank will extend a loan of €30 million loan to UniCredit Bank Serbia for on-lending to private SMEs and up to €15 million to UniCredit Leasing Serbia d.o.o. especially to strengthen equipment leasing.

The funds are being provided under the international financial institutions’ joint Action Plan agreed between the EBRD, the World Bank Group and the European Investment Bank in November 2012.

The Action Plan, developed within the context of the ”Vienna Initiative”, includes more than €30 billion of joint commitments for the period 2013-2014.

Access to finance remains challenging for many small private enterprises in Serbia and the Western Balkans, especially regarding long-term financing.