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First EBRD-loan in Slovakia under Rural Finance Facility
€5 million credit line for UniBanka a. s.
To support small and medium-sized enterprises in rural areas of Slovakia the
EBRD is extending a €5 million loan to UniBanka a. s. The financing, which
comes under the rural window of the EU/EBRD SME Finance Facility, will be
complemented with up to €733,000 provided by the European Commission to assist
UniBanka in the implementation of the facility.
This is the first loan under the rural window in the Slovak Republic. The
facility intends to bridge the gap in finance in rural areas in countries from
central and eastern Europe. The inability of many agricultural businesses and
rural enterprises to obtain adequate short- or long-term finance is a key
barrier to a balanced economic development. Approximately one third of
Slovakia’s GDP is produced in and around the capital city of Bratislava.
Alexander Auboeck, EBRD Director for the Slovak Republic, said the loan will
enable UniBanka to increase its focus on SMEs and expand its activities in
rural areas and municipalities with less than 25,000 inhabitants. This will
ultimately help create jobs and facilitate the transition from agriculture to
industry and services.
Mr Gianni Franco Papa, Vice Chairman of the Board of Directors and Chief
Operating Officer of UniBanka said “our bank is proud to be the first bank in
the market which is introducing a new instrument for financing SMEs from rural
areas and to contribute to the growth of this segment in Slovakia. This step
confirms our interest in both the commercial area and for the country’s
overall economic development.”
UniBanka is the sixth largest bank in the Slovak Republic in terms of assets
and strongly focused on developing the SME market. The bank is majority owned
by UniCredito Italiano, with the EBRD holding a minority stake.
The EU/EBRD SME Finance Facility, a joint programme of the European Commission
and the EBRD, supports the development and growth of entrepreneurs by
facilitating their access to finance. The Bank will make available funding of
€1.1 billion, of which €830 million has been committed to signed projects. The
EC has been contributing €156.75 million in grant financing and for technical
assistance since the launch of the programme in 1999. For further information
about the Phare programme, the main channel for the EU’s financial and
technical cooperation with accession countries, see: http://europa.eu.int/comm/enlargement/pas/phare/index.htm
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