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EBRD, EU & UniBanka promote SMEs in Slovak Republic
€5 million loan to help fuel under-financed sector
Small and medium-sized enterprises in the Slovak Republic will gain better
access to finance following a €5 million loan from the EBRD to UniBanka, the
sixth largest bank in the country and a subsidiary of Unicredito Italiano. In
addition to the EBRD loan, up to almost €1.1 million is being provided by the
European Union for the implementation of the project.
These amounts are extended under the EU/EBRD SME Finance Facility, a joint
programme of the European Commission and the EBRD to support the development
and growth of small and medium-sized enterprises (SMEs) by facilitating their
access to finance launched in 1999. Under this program, the EBRD has committed
€850 million, of which €650 million has been disbursed by local banks and
leasing companies via 27,000 loans and leases. The EC has committed €130
million in grant financing and for technical assistance since the Facility’s
launch in 1999.
Alexander Auboeck, EBRD Director for the Slovak Republic, said that this loan
is important for the country’s enterprise sector, since financing for
entrepreneurs is still limited. It will help giving access to capital to small
businesses, which are the engines of growth and a key to economic development.
We also hope that this project will demonstrate to other banks the business
opportunities that exist in this growing sector, he added.
Established in 1990, UniBanka is a medium-sized commercial bank providing a
wide range of banking services to local enterprises and individuals. With its
headquarters in Bratislava and 69 branches throughout the country, UniBanka
has excellent country coverage. Mr Jozef Barta, CEO of UniBanka, said “our
bank has traditionally a strong position in financing small and medium-sized
entreprises in Slovakia. We are confident that this facility will further
improve UniBanka´s position in this attractive and growing market segment.”
The SME Facility was launched in 1999 under the European Commission’s Phare
Programme, the main channel for the EU's financial and technical cooperation
with the new member countries of central and eastern Europe. The budget
earmarked for the Programme as a whole is about €1.5 billion a year. (For
further information see: http://europa.eu.int/comm/enlargement/)
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