MICROCAPITAL BRIEF: European Bank for Reconstruction and Development to Loan $77m to UniCredit Bank Serbia for Small and Medium-sized Enterprises

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral finance institution, recently announced it will lend EUR 60 million (USD 76.9 million) to UniCredit Bank Serbia, a subsidiary of Italy-based financial services company UniCredit Group, for on-lending to private small and medium-sized enterprises (SMEs) in Serbia.

The money is being provided under a joint action plan among EBRD, the US-based World Bank Group and the European Investment Bank to provide approximately EUR 30 billion (USD 38.4 billion) in joint commitments during fiscal year 2013-2014. Further information on the loan to UniCredit Serbia, such as the term or interest rate, is unavailable.

UniCredit Group has 9,500 branches in 22 countries in Europe. For the year 2012, UniCredit Serbia reported total assets of RSD 244 billion (USD 2.8 billion). In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).

By Charlotte Newman, Research Associate

About UniCredit Bank 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. For the year 2011, UniCredit Group reported total assets of EUR 926 billion (USD 1.19 trillion). For the year 2012, UniCredit Serbia reported total assets of RSD 244 billion (USD 2.8 billion).

About European Bank for Reconstruction and Development
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 is now owned by 61 countries as well as the European Investment Bank and the European Union. 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 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).

Sources and Additional Resources:

EBRD Press Release: “A Boost for Serbia’s Private Sector: EBRD and UniCredit Providing Loans and Leasing Finance,” http://www.ebrd.com/pages/news/press/2013/130517.shtml

MicroCapital.org story, April 5, 2013, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $19m to UniCredit Serbia for Small and Medium-sized Enterprises,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-loans-19m-to-unicredit-serbia-for-leasing-to-small-medium-sized-enterprises/

MicroCapital.org story, May 13, 2013, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), European Union Commit $25m to Kyrgyz Sustainable Energy Financing Facility (KyrSEFF),” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-european-union-commit-25m-to-kyrgyz-sustainable-energy-financing-facility-kyrseff/

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