Sitemap

EIB Provides €20 Million To Intesa Sanpaolo Banka To Enhance The Positive Social Impact Of SMEs In BiH

CorD Recommends

Open Balkan Wines Showcased in Vienna

The Serbian Chamber of Commerce President, Marko...

Marko Čadež Elected for the Fifth Time as a Board Member of Eurochamber

Presidents of the Chambers of Commerce from...

Croatia Grants Over 100,000 Work Permits in 2023

In the first seven months of 2023,...

Podgorica’s Property Market Soars with Over 40% Price Increase in Two Years

Apartment prices in Podgorica have surged by...

92-Year-Old Indian Learns to Read and Write, Inspires Others

A 92-year-old grandmother from India has learned to read and write after attending school for the first time, captivating...

Ancient Footwear Unearthed: Europe’s Oldest Shoes Discovered in Spain

Scientists have identified what are believed to be the oldest shoes in Europe – sandals woven from grass, estimated...

Boxers Join the Open Balkan Initiative

The newly established boxing tournament, named the "Open Balkan Cup", is set to continue with its second round of...

Tourist Taxes in Amsterdam to Become the Highest in Europe

City leaders in Amsterdam have announced a significant increase in tourist taxes, positioning them as the highest in Europe....

Swiss-Serbian Chamber of Commerce-Holycode Working Lunch

Swiss-Serbian Chamber of Commerce SSCC held a working lunch entitled ’’The update of the Swiss start-up ecosystem’’ co-organised with...

Under its new branch EIB Global, the European Investment Bank (EIB), the bank of European Union, has signed a €20 million loan with Intesa Sanpaolo Banka BiH aiming to foster youth employment, gender equality and socially inclusive practices among SMEs and mid-caps. These funds will enable Intesa Sanpaolo BiH to on-lend to local companies that are committed to improving the social impact of their businesses and creating long-term leadership and employment opportunities for women, young people and segments of the population that face higher entry barriers in the labour market.

This innovative loan includes a performance-based reward mechanism for companies that meet specific targets to foster leadership, employment and professional development opportunities for women, young people and vulnerable groups (e.g. people with disabilities, refugees, etc.). Under this incentive scheme, tailor-made social impact objectives will be agreed with each company benefiting from the EIB financing and a financial reward commensurate with the level of social impact generated will be distributed to those who meet such targets.

On this occasion, the EIB Vice-President responsible for the Western Balkans, Lilyana Pavlova, said: “This new financing provides further proof of the EIB’senduring support for the country’s economic recovery and sustainable growth on the path to EU integration. We are delighted to once again join forces with our long-term partner Intesa Sanpaolo Banka to not only increase access to finance for SMEs and mid-caps in BiH, but to do so whilst boosting leadership and quality employment opportunities for women, young people and vulnerable groups. Under Team Europe and our new EIB Global branch, the EIB looks forward to enabling economic transformation for a more inclusive, green and sustainable future.”

Marco Elio Rottigni, Chief of Intesa Sanpaolo’s International Subsidiary Banks Division, commented: “Our group aspires to be the world’s leading bank in terms of social impact. As such, we are active in providing tangible social contributions to communities in terms of social inclusion, as well as the green transition, culture, education and innovation.Thanks to our broad and long-standing cooperation with the European Investment Bank, we are pleased to be the first in the country to offer this kind of funding through our subsidiary Intesa Sanpaolo Banka Bosnia and Herzegovina”.

Related

Lilyana Pavlova, Vice President Of EIB

Determined To Help The Region’s Green Transformation

The Western Balkan region needs to become part of the solution to both challenges – the pandemic and climate change. To achieve this objective,...

Realisation Of Project “EU For Green Agenda In Serbia” Begins

Prime Minister Ana Brnabić and the European Union (EU) Ambassador to the Republic of Serbia Emanuele Giaufret presented today a new initiative worth 8...

Marco Trevisan, CEO of Intesa Sanpaolo Banka BiH, said: “It is a great pleasure to continue our cooperation with EIB. We are signing today a ground-breaking credit line which will enable social inclusion for local SMEs, Mid-Caps and social enterprises. Our bank will be the very first in Bosnia Herzegovina to introduce this new mechanism to support the needs of our clients, and we are sure that they will widely benefit from it”.

The reward mechanism will be financed via a €3.3 million grant provided under the EIB’s Economic Resilience Initiative (ERI) Fund, aimed at boosting job creation and sustainable and inclusive private sector growth. A comprehensive technical assistance programme will be created to support the project’s implementation and the achievement of the social impact objectives agreed with SMEs and mid-caps in BiH.

This will be the sixth cooperation of the EIB and Intesa Sanpaolo BiH in support of the private sector in BiH which has resulted in the disbursement of over €238 million and provided support to 339 companies so far. To date, the EIB has provided €860 million to the private sector in Bosnia and Herzegovina, which has helped sustain close to 100 000 jobs.

Related Articles

Alessandro Bragonzi, Head Of The EIB Regional Representation For The Western Balkans

Opportunities To Be Embraced

Amid the current challenges, Serbia can benefit further by using the impetus of nearshoring to move ahead with reforms within the accession process, scale...

Elektroprivreda Republike Srpske Targets Hydrogen Production

The Bosnian utility company, Elektroprivreda Republike Srpske (ERS), has set its sights on hydrogen production within the Republika Srpska region. A pivotal step towards...

Seven Newly Appointed Ambassadors Present Letters Of Credence

The President of Serbia, Aleksandar Vučić, received letters of credence from the newly appointed ambassadors of Palestine, Congo, Japan, Cyprus, Bosnia and Herzegovina, the...

EBRD Support For Development Of Science, Technology Parks In Serbia

Prime Minister Ana Brnabic said today in London, after a meeting with President of the European Bank for Reconstruction and Development Odile Renaud-Basso, that...

Čadež: The Western Balkans Is The Region Of Potential, Not Problems

Europe should accept, as soon as possible, the fact that the Western Balkans (WB) is not the region of problems and trouble but of...

European Heritage

Europe’s 7 Most Endangered Heritage Sites 2023

The list of the 7 Most Endangered monuments and heritage sites in Europe for 2023 – which marks the 10th anniversary of this innovative...

Introducing First Ever Regional Publication

In the year commemorating 20 years of CorD Magazine it is our great pleasure to announce an exclusive regional publication promoting cooperation between Serbia, North...

Bosnia and Herzegovina Officially Invited To Join The Open Balkan

The Prime Minister of the Republic of Serbia, Ana Brnabić, expressed her hope that the region will continue to develop relations and a prosperous...