The credit line is a part of financial arrangement by the EBRD to Societe Generale’s subsidiaries in eastern Europe.
The proceeds of the EBRD loan will be used to finance the investments and working capital needs of private businesses operating in Serbia with short, medium and longer term loans of up to EUR1.5m.
Hildegard Gacek, the director for Serbia at EBRD, said: “The project will ensure a continuous flow of finance to small and medium-sized companies at a time when they face growing difficulties in obtaining funding for their development. In addition, the transaction will provide a confidence boost to the banking sector in Serbia.”
Antoine Toussaint, CEO of Societe Generale Serbia, said: “Besides permanent strong financial involvement of our own group, once again, this is another proof that Societe Generale Serbia will not omit any of opportunities to support the local economy and to encourage it. Our current collaboration with the EBRD was always at the highest level and we will continue to count on it in the future as well.”
