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EBRD Signed Three Credit Lines With Banca Intesa And Intesa Leasing

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The European Bank for Reconstruction and Development-EBRD has signed three credit lines with Banca Intesa and Intesa Leasing for a total value of EUR 60 million aimed at both personal finance and the real economy.

Banca Intesa will provide funds from the EUR 30 million credit line to individuals in the form of soft housing loans, while a EUR 5 million line is intended for continuing implementation of support programmes for women’s entrepreneurship, under which the bank approves loans for financing craft funds and investment for small and medium-sized enterprises run by women.

A credit line of EUR 25 million whose funds will be placed by the Intesa Leasing is aimed at financing the purchase of commercial vehicles, equipment and investment in real estate by small and medium-sized enterprises.

Even without the latest credit lines, Banca Intesa and Intesa Leasing have provided support to companies and individuals to a total amount of almost EUR 160 million through previous cooperation with the EBRD.

Under the housing loan line, Banca Intesa approves loans insured by the National Housing Insurance Corporation (NKOSK) with a repayment period of up to 15 years and an annual interest rate of 2.52 percent (effective interest rate, EIR 3.29 percent) and loans with a repayment period from 15 to 30 years and an interest rate of 2.58 percent (EIR 3.12 percent) annually.

Loans under the program “Women in Business” are offered by Banca Intesa with an annual fixed interest rate of 5.5 per cent (EIR 6.84 per cent) with a maximum amount of EUR 500,000. Loans for working capital have a maximum maturity of up to 36 months with a grace period of up to 6 months, which is included in the repayment period, while loans for investment have a repayment period of 37 to 60 months and a grace period of up to 12 months included in the loan period. Loans with a maturity of up to 36 months and investment loans up to EUR 25,000 do not require security in the form of a mortgage.

So far, the EBRD has invested around EUR 4,5 billion in various branches of the Serbian economy. The Banks’ primarily aims at increasing the competitiveness of the private sector and developing sustainable and efficient public enterprises.

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