EBRD lends €40 million to Erste Bank to support SMEs in Serbia

By Olga Rosca
@olgarosca

Erste Bank

  • €40 million credit line to Erste Bank Serbia
  • Lender planning to increase financing to SMEs
  • Investment, working capital loans and revolving facilities available

Small businesses in Serbia will benefit from greater access to finance thanks to a new €40 million EBRD credit line for Erste Bank Serbia.

The funds will be on-lent to small and medium-sized enterprises (SMEs) to increase their growth and development on local and international markets. Erste Bank will offer companies a wide range of products and services, including investment and working capital loans as well as revolving facilities. 

Slavko Carić, President of the Executive Board, Erste Bank Serbia, said: “Erste Bank Serbia is very pleased to continue its successful, long-term cooperation with the EBRD, which allows us to provide competitive financing for SMEs and to increase our support for this important segment of the local economy. This new credit line will allow for the expansion of SMEs and the improvement of overall economic conditions across the country.” 

Henry Russell, EBRD Director for Financial Institutions in the Western Balkans, Ukraine and Moldova, added: “Erste Bank in Serbia has been our partner since 2012 and we are delighted to further deepen our cooperation. The lender is committed to increasing its SME portfolio and has a dedicated team to do so. We are pleased to be able to provide fresh financing and support this important effort.”

Erste Bank Serbia is a member of Austria’s Erste Bank Group and among the top ten banks in the Serbian financial sector with some 30 lenders.

The EBRD is a leading institutional investor in Serbia. The Bank has invested more than €5 billion across 230 projects in the country to date. The Bank is supporting private sector development and the transformation towards a green economy, and investing in infrastructure to boost connectivity in the Western Balkans region.