Intesa Sanpaolo obtained new credit line from EBRD for SME - 30m EUR for projects in Serbia

The European Bank for Reconstruction and Development (EBRD) approved a financing package of up to EUR 100 million to Intesa Sanpaolo Group’s subsidiaries in Bosnia and Herzegovina, Hungary and Serbia.

According to the creditor's website www.ebrd.com, the credit line is intended for on-lending to small and medium-sized enterprises (SMEs).

Banca Intesa Beograd will get EUR 30m, Intesa Sanpaolo Bank in Bosnia and Herzegovina will receive EUR 20m, while EUR 50m are intended for CIB Bank in Hungary.

At a time when businesses face growing difficulties in obtaining funding for their development, this project will help ensure a continuous flow of financing to small and medium-sized companies, a sector that has been hit particularly hard by the crisis.

- Through this project the EBRD reconfirms its commitment to help the economies of the region address the impact of the financial crisis - said Nick Tesseyman, EBRD Managing Director for Financial Institutions.

The funds provided to the three subsidiaries of the Intesa Sanpaolo Group will facilitate the access to much-needed financing for businesses in Bosnia and Herzegovina, Hungary and Serbia in the current tight credit markets.

The EBRD financing offered to Intesa Sanpaolo Group is part of the Joint IFIs Action Plan, a joint initiative of EBRD, the World Bank Group and the European Investment Bank Group to provide EUR 24.5 billion in support of banking systems and lending to the real economy in central and eastern Europe.

Since the launch of the initiative a year ago the EBRD has made available more than EUR 3.8 billion in new funds for the financial institutions sector in countries of its operation.

Banca Intesa a.d. Beograd

BANCA INTESA S.p.A. MILANO

EBRD Evropska banka za obnovu i razvoj Beograd

IFC

EIB

Intesa Sanpaolo

Banca Intesa

European Bank for Reconstruction and Development

EBRD

Nick Tesseyman

World Bank

European Investment Bank