Sitemap

CEB Grants €1.3 Billion Loans to Boost Social Sectors in 11 Countries

Source:

CorD Recommends

Serbia Charts the Course to Smart Cities with Kragujevac Leading the Way

In a significant development for urban planning...

Serbia, Slovenia, and Hungary Merge Power Exchanges in Energy Pact

In a significant move to streamline and...

Over Two Thousand Seek Employment in Serbia Through Open Balkan Scheme

Serbian President Aleksandar Vučić reported that, via...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling...

1938 Superman Comic Sold for Record $6 Million

A 1938 comic book featuring the first appearance of Superman was sold for a record $6 million to an...

White House Calls for Lunar Time Zone

The White House has requested that NASA create a new time zone for the Moon by the end of...

Serbian Red Cross Launches Pioneering Migration Platform

Responding to a significant increase in migrant numbers, the Serbian Red Cross has unveiled a cutting-edge digital platform, earning...

Ghana to Open Embassy in Belgrade

Ghana is set to open an embassy in Belgrade, as announced by Serbia's Foreign Minister Ivica Dačić following a...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive Maserati showroom in Belgrade, setting new luxury benchmarks in line with the...

The Council of Europe Development Bank (CEB) has sanctioned loans totaling €1.3 billion for 11 member countries, including Serbia and Bosnia and Herzegovina, announced in Strasbourg.

Governor Carlo Monticelli specified that the loans aim to foster investments in microfinance, healthcare, education, and post-disaster reconstruction. A notable portion of the funding will aid Ukraine in accommodating its population displaced by conflict.

Beneficiary countries of this financial package also comprise Finland, France, Germany, Iceland, Poland, Slovakia, Spain, and Turkey.

“Today’s approved loans will finance a variety of social sector investments ranging from microfinance to healthcare, education, and disaster recovery efforts,” Monticelli elaborated.

For Serbia, the CEB highlighted a €6 million loan to 3Bank joint stock company in Novi Sad, intended to bolster rural enterprises and farmers in remote areas, addressing microfinance shortfalls in the country.

3Bank, a new loan recipient for CEB, is dedicated to providing financial and advisory services to those overlooked or financially excluded by conventional banks. The loan targets small farmers, underfunded micro-entrepreneurs, independent women entrepreneurs, startups, and small traders.

Read more..

Crypto12 Hosts Buzzing Crypto Conference

The "Crypto Potential in Serbia 2024" conference has significantly exceeded expectations, drawing a crowd of 270 participants—far above the anticipated 200.  Held in Belgrade, this...

Serbian Red Cross Launches Pioneering Migration Platform

Responding to a significant increase in migrant numbers, the Serbian Red Cross has unveiled a cutting-edge digital platform, earning accolades as the premier digital...

The CEB’s financing aims to bridge crucial gaps in Serbia’s microfinance sector, essential for business growth, job creation, and inclusive development. Addressing issues like emigration and brain drain resulting from limited self-employment opportunities and lower living standards, the CEB loan is said to offer significant social value.

Conclusively, the CEB’s investment underscores its commitment to social sectors, including education, healthcare, and affordable housing, focusing on the needs of the vulnerable, with governments, local and regional authorities, public and private banks, and non-profit organizations as potential beneficiaries.

Related Articles

Serbia Advances in Renewable Energy with Pupin Wind Park Financing

In a significant stride towards renewable energy adoption, Serbia has finalized the financial arrangements for the Pupin Wind Park, with contracts signed at the...

Đedović Handanović: Nuclear Energy in Serbia by 2039 at the Earliest

Nuclear energy in Serbia could become a reality by 2039 at the earliest, should work on the project commence now, stated Dubravka Đedović Handanović,...

Bosnia and Herzegovina Kickstarts EU Membership Talks

Bosnia and Herzegovina has initiated accession negotiations with the European Union, a development hailed as a pivotal advancement for the Balkan country. This move,...

New ENEF II Fund to Propel Growth in Western Balkans

The European Bank for Reconstruction and Development (EBRD) has announced the introduction of the Enterprise Expansion Fund II (ENEF II), aimed at fostering the...

Electric Power Companies of Republika Srpska and Montenegro Plan to Establish a Joint Company

The management boards of the electric power companies of Republika Srpska and Montenegro have initiated the formation of a joint company based in Trebinje,...

United Front on Energy and Environment: Balkan Ministers Pledge Cooperation

In a landmark summit, the energy and mining ministers of Montenegro, the Republic of Srpska, and Serbia united to deliberate on ways to enhance...

Minister Jovanović Earns Reformer of the Year for Leading Serbia’s Digital Overhaul

Mihailo Jovanović, Serbia's Minister of Information and Telecommunications, has been named Reformer of the Year by the National Alliance for Local Economic Development (NALED),...

31st Kopaonik Business Forum Kicks Off Amid Global Uncertainties

The prestigious Kopaonik Business Forum, now in its 31st year, commenced on the Serbian ski resort of Kopaonik, with a spotlight on "The New...