Belgrade, Serbia, September 3, 2015
– IFC, a member of the World Bank Group, is providing financing
of up €35 million to Eurobank a.d. Beograd to strengthen the bank’s mortgage
lending and increase trade finance for companies in Serbia.
Long-term funding is critical to enabling capital investment and making
housing finance affordable, yet it remains scarce in the Serbian banking
sector. By working with Eurobank a.d. Beograd, IFC is boosting these financial
tools and signaling its confidence in the Serbian banking sector.
IFC is providing two loans to Eurobank a.d. Beograd, a €15 million loan
for financing mortgage lending growth and a €20 million loan to provide
working capital financing for Serbian companies engaged in imports and
exports. IFC provided a $60 million trade facility to the bank in during
the 2011-2013 period, and a €38 million loan in 2010 to support small
and medium enterprises in Serbia.
“We are very pleased to be signing this agreement today and expanding
our already successful cooperation with one of the leading international
financial institutions, such as IFC. By doing so, we also confirm our strategic
focus on supporting the retail sector and Serbian export-oriented companies,”
said Filippos Karamanolis, President of the Executive Board, Eurobank a.d.
Beograd. “Thanks to this agreement, we will have an opportunity to offer
our clients mortgage loans under highly favorable terms, tenor and interest
Eurobank a.d. Beograd has been operating in Serbia since 2003 and today
it is ranked among the leading foreign investors and financial institutions
in the country, offering a wide range of standard and innovative products
and services to retail and corporate clients. The bank has a diverse corporate
social responsibility program, through which it has invested more than
€4 million in projects in education, public health, environmental protection,
culture, and inclusive social development.
“One of IFC’s priorities is providing support to the financial sector
through capital investments and long-term financing to major banks that
promote systemic stability,” said Thomas Lubeck, IFC’s Regional Manager
for the Western Balkans. “It is essential to keep the flow of credit to
individuals and companies in Serbia and encourage further development and
economic stability of the country.”
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence, to create opportunity where it’s needed most. In FY15,
our long-term investments in developing countries rose to nearly $18 billion,
helping the private sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity. For more information,
Eurobank is a European banking organization with total assets of €75.5
billion (as at March 31, 2015), offering universal banking across eight
countries. Eurobank has a dynamic presence in Greece and holds lead positions
in Bulgaria, Romania and Serbia, offers discerning Wealth Management services
in Cyprus, Luxembourg and London and is also present in Ukraine. For more
information on Eurobank, please visit www.eurobank.rs.