EBRD and Banca Intesa sign first RSF project in Serbia

• Banca Intesa provides a €9 million loan to PIP Food Group
• EBRD to risk-share 50 percent on the transaction
• First project under the Risk Sharing Facility framework in the country

The European Bank for Reconstruction and Development (EBRD) is supporting the growth of PIP d.o.o., a leading tortilla producer in Serbia, through a risk-sharing agreement with Banca Intesa Beograd. This is the first project signing under the Risk Sharing Facility in Serbia, under which the EBRD offers partner banks unfunded risk-participation mechanisms in foreign or local currency by guaranteeing a share of their loans to eligible companies.

Banca Intesa is providing a €9 million loan to PIP d.o.o. to upgrade its facilities and purchase new equipment to increase production. As part of the agreement, the EBRD is participating through the unfunded risk sharing 50 percent on the transaction.

In addition, PIP will receive a €50,000 grant approved by the EBRD as an environmental, social, and governance (ESG) incentive payment to advance its gender equality initiatives. The Company is committed to increasing female representation within its management team by strengthening existing gender-responsive HR practices and introducing further measures, such as internal mentorship programmes.

The agreement marks the continuation of a strong partnership with Banca Intesa and emphasises a joint commitment to supporting Serbian companies’ sustainable development.

PIP d.o.o. was founded in August 1992. The company’s main activity has been the production and trade of additives and mixes for the bakery industry. Since then, the business has expanded to the production of tortillas.

Banca Intesa, a member of the Intesa Sanpaolo Group, is a long-standing partner of the EBRD. It is the leading bank in Serbia by total assets, capital and customer deposits.

The EBRD is a leading institutional investor in Serbia and has invested more than €10 billion through 390 projects, most of which have supported the private sector. In Serbia, the Bank priorities include enhancing private-sector competitiveness, productivity and access to finance.