Within the framework of its Trade Facilitation Programme (TPF), The European Bank for Reconstruction and Development (EBRD) increased the credit line from 20 to 50 million euros to Eurobank a.d. Belgrade in order to encourage trade in Serbia.
Eurobank joined the TFP program in 2011 and has since supported export-import activities of its clients, it was said in a statement from the bank.
“Increased credit line will help Eurobank to meet more effectively the financial needs of its clients and further expand their activities, from which the whole Serbia’s economy will benefit”, said Henry Russell, EBRD Director in charge of financial institutions in the Western Balkans.
Launched in 1999, TFP program aims to improve international trade and currently has more than 100 partner banks in 27 countries where the EBRD invests, with a total investment exceeding 1.5 billion euros and more than 800 banks with which it cooperates worldwide.
So far, the EBRD has invested € 4.4 billion in over 200 projects across Serbia. The bank invests in the financial sector, industry, commerce, agriculture, energy and infrastructure.