Bosnia Herzegovina's Sberbank BH d.d. will receive a $13.76 million loan from EBRD for on-lending to local small and medium-sized enterprises.
The loan will be aimed at supporting banks and non-bank financial institutions in funding small enterprises, as per the Western Balkans and Croatia Financing Framework, Balkans.com reports.
Sberbank BH has been working in Bosnia Herzegovina since February 2012. The bank is involved in investments in infrastructure, new products and modern business services while also working to diversify its operations, specifically in the SME sector.
The efforts are expected to assist local enterprises in finding longer-term financing.
The EBRD is focused on SME lending in order to strengthen the economic recovery through the development of a regulatory framework, an improved business environment and through access to finance, according to Balkans.com.
The loan marks continued cooperation between Russia's largest bank and the EBRD in support of SMEs. The EBRD has previously worked with Sberbank subsidiaries in Belarus, Kazakhstan and Turkey.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme