EBRD increases investments in Serbia, supports female entrepreneurship

“Investments by the EBRD leapt to a record high in the first half of 2020 as the Bank responded rapidly to the needs of emerging economies grappling with the impact of the coronavirus,” a press release said.

“The EBRD scaled up financing for key banks in Serbia to support small and medium-sized enterprises affected by the coronavirus, making loans available via the Serbian subsidiaries of Banca Intesa, Erste Bank, Eurobank, ProCredit Bank and UniCredit Bank,” it added.  

The EBRD said it was working with the Banca Intesa Beograd to expand access to finance for businesswomen. “Women-led businesses in Serbia will benefit from a new €8 million loan by the European Bank for Reconstruction and Development (EBRD) to Banca Intesa Beograd for on-lending to local small and medium-sized enterprises led by women,” the bank said.

A press release quoted Zsuzsanna Hargitai, EBRD Regional Director, Western Balkans and Head of Serbia as saying that the two banks are joining forces to support women-led businesses in Serbia. “This is an important step forward in our effort to support women’s economic inclusion in the country,” she said.

It quoted Draginja Djuric, President of the Executive Board, Banca Intesa as saying that the two banks are continuing to strengthen the economic potential of female entrepreneurship and acknowledging its importance for the sustainable development of the local economy. “In the circumstances when the entire global economy feels negative consequences of the pandemic, vulnerable segments of the economy are particularly susceptible to the crisis, which why it is necessary to provide them with easier access to finance at this moment as well, contributing to the preservation of jobs and overall economic recovery of our country,” she said.