Source: Tanjug | Tuesday, 20.03.2018.| 08:46
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More money for financing small and medium enterprises – CEB approves loan of EUR 50 million for two banks in Serbia

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The Council of Europe Development Bank (CEB) has approved eight new loans to institutions in member states of the Council of Europe, including Serbia, whereby two banks operating in the territory of Serbia will get loans of a total of EUR 50 million.

The two loans, approved at the meeting of the CEB Administrative Council on Friday, March 16, 2018, in Paris, will be directed at the facilitation of the operations of micro, small and medium companies in Serbia, the Council of Europe announced on Monday, March 19.

A EUR 20 million loan has been approved to Raiffeisen Leasing Serbia, the country’s third largest leasing company, to channel financing to MSMEs throughout the country, increase their competitiveness, and support the creation of new permanent and seasonal jobs and the preservation of existing positions.

Also, a EUR 30 million loan has been approved to ProCredit Bank Serbia to benefit MSMEs for which leasing is often the only form of investment finance to which they have access, the press release says.

MSMEs play an important role in Serbian economy, as they provide almost two-thirds of all jobs in the private sector, says the press release by the Council of Europe sent to Tanjug.

The total value of the new loans approved by the CEB Administrative Council at the meeting on Friday amounts to EUR 690 million, with the other six loans approved to institutions in the Czech Republic, Finland, Hungary, Lithuania, the Netherlands and Spain.

Among the new loans, only Serbia has had two loans approved to it.

Founded in 1956, CEB has 41 member states, 22 among which are states of central, eastern and southeastern Europe. CEB approves loans to all its member states, as well as financial institutions and local authorities in those countries for the purpose of financing projects in the social sector, the press release says.
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