European Bank for Reconstruction and Development (EBRD) has increased the availability of financing to the real sector in FYR Macedonia with a EUR5m credit line with Ohridska Banka, Societe Generale Group for on-lending to small and medium-sized enterprises (SMEs).
The EBRD loan will support Ohridska banka’s strategy to further expand its operations throughout the country. The proceeds of the credit line will be used to finance the operations of small and medium-sized businesses with loans of up to EUR5m.
Elena Urumovska, head of the EBRD resident office in FYR Macedonia, said: “Strengthening the banking sector in the current market conditions is one of the EBRD’s key priorities and we are pleased to support Ohridska banka’s drive to become a more prominent player in the Macedonian banking sector. This transaction will support the real economy in the country by increasing the availability of financing to small and medium-sized businesses.”
Bernard Koenig, president of the board of directors of Ohridska banka, Societe Generale Group, said: “With this partnership Ohridska banka continues to actively support the Macedonian economy. The funds will be used to provide financing to the growing private sector needs in the country, which is crucial at this stage of the economic development.”
