EBRD loans of €60m boost Serbian SMEs

Small businesses in Serbia will benefit from a financing package provided by the European Bank for Reconstruction and Development to Erste Bank Serbia as the country seeks to recover from the coronavirus pandemic. 

The EBRD financing will consist of a loan of up to €40 million and a second loan of up to RSD2.2 billion (around €20 million equivalent) for on-lending to local small and medium-sized enterprises, especially in remote parts of the country. The provision of local currency funding will protect borrowers from exposure to exchange rate risks.