260m Million Euros Loan for Over 6000 Small and Medium Enterprises in Serbia

European Investment Fund (EIF) has extended the contract of guarantee with Banca Intesa ad Beograd and signed a guarantee agreement with UniCredit Bank Serbia ad within the COSME Program for the small and medium enterprises (SMEs).

Annex to the contract signed with Banca Intesa will enable the bank to, supporg more than 2,200 small and medium enterprises and entrepreneurs with an additional $ 100 million loan with a much relaxed collateral after the successful implementation of EUR 60 million loan under a contract signed in December 2016. In less than six months the implementation of COSME program in Serbia, Banca Intesa has provided support for about 1,300 small and medium enterprises and entrepreneurs. Minister of Economy Goran Knežević said: “COSME program is very important for Serbia, because through this instrument we provide even newer, favourable sources of finance for our small and medium-sized enterprises.”. The Chair of the Executive Board of UniCredit Bank Serbia JSC, Chilla Ihaz said: “in addition to the projects we have successfully carried out in cooperation with the EIF, we are pleased that once again, as a financial institution with responsibility and reliable partner to the Government of the Republic of Serbia, can join efforts in supporting the development of local economy. we recognise the importance of the small and medium-sized enterprises, as a key driver of economic development and job creation, has for all developing economies.”

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