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.
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