MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $69m to UniCredit Bank Serbia

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently announced that it is considering loaning EUR 50 million (USD 69 million) to UniCredit Bank Serbia, a subsidiary of Italy-based financial services company UniCredit Group. Of the total, EUR 10 million (USD 14 million) will be on-lent to private individuals for residential mortgages. EUR 40 million (USD 55 million) will be disbursed as a senior loan to provide “medium and long-term” lending to small and medium-sized enterprises (SMEs) in Serbia.

UniCredit Serbia reported total assets of EUR 2.1 billion (USD 3 billion) as of 2013. UniCredit Group has 9,500 branches in 22 countries in Europe and total assets of EUR 846 billion (USD 1.17 trillion) as of 2013. In 2013, EBRD invested EUR 8.5 billion (USD 11.4 billion) in 392 projects across 34 countries.

By Juan Blanco, Research Associate

About UniCredit Serbia

UniCredit Bank Serbia is a member of UniCredit Group, an Italy-based financial institution. UniCredit Group has 9,500 branches in 22 countries in Europe and reported total assets of EUR 846 billion (USD 1.17 trillion) as of 2013. For the year 2013, UniCredit Serbia reported total assets of EUR 2.1 billion (USD 3 billion).

About European Bank for Reconstruction and Development (EBRD)

The European Bank for Reconstruction and Development (EBRD) is a multilateral institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries, and it is owned by 61 countries as well as the European Investment Bank and the European Union as of 2012. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe, Central Asia and North Africa. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2013, EBRD invested EUR 8.5 billion (USD 11.4 billion) in 392 projects across 34 countries.

Sources and Additional Resources

[1] European Bank for Reconstruction and Development, “UCB Serbia – Mortgage Loan,” April 23, 2014, http://www.ebrd.com/pages/project/psd/2014/46067.shtml

[2] European Bank for Reconstruction and Development, “UCB SERBIA – SME Credit Line,” April 28, 2014, http://www.ebrd.com/pages/project/psd/2014/46318.shtml

MicroCapital Story, April 26, 2014, “EBRD, EFSE to Loan $16m to FINCA Azerbaijan to Support Micro-, Small, Medium-sized Enterprises (MSMEs), Agricultural Lending,” https://www.microcapital.org/microcapital-brief-ebrd-efse-to-loan-16m-to-finca-azerbaijan-to-support-micro-small-medium-sized-enterprises-msmes-agricultural-lending/

MicroCapital Story, April 23, 2014, “European Bank for Reconstruction and Development (EBRD) to Loan $6.9m to Elana Agrocredit of Bulgaria to Expand Land Lease Financing,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-to-loan-6-9m-to-elana-agrocredit-of-bulgaria-to-expand-land-lease-financing/

MicroCapital Story, April 23, 2014, “European Bank for Reconstruction and Development (EBRD) Loans $8.3m to Tutunska Banka of Macedonia for Small, Medium-sized Enterprises (SMEs), Energy Efficiency,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-loans-8-3m-to-tutunska-banka-of-macedonia-for-small-medium-sized-enterprises-smes-energy-efficiency/

MicroCapital Story, May 23, 2013, “European Bank for Reconstruction and Development to Loan $77m to UniCredit Bank Serbia for Small and Medium-sized Enterprises,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-to-loan-77m-to-unicredit-bank-serbia-for-small-and-medium-sized-enterprises/

MicroCapital Universe Profile: UniCredit Bank Serbia, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Unicredit+Bank+Serbia

MicroCapital Universe Profile: European Bank for Reconstruction and Development (EBRD), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29

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