Banca Intesa and the European Investment Bank (EIB) signed yesterday an agreement stipulating the first 30-million-EUR tranche of a credit line intended for small and medium enterprises. The money will be available as long-term loans that will be granted under conditions that are more favourable than the current, market ones.
The credit line will total 60 million EUR. “Small and medium enterprises make one of the key driving forces behind sustainable development of our economy, hence, stimulating their growth is an important segment of the overall support that Intesa gives to the real sector”, said Draginja Djuric, Chairwoman of Banca Intesa’s Executive Board.
The payment period of the loans granted by Banca Intesa will be between 2 and 12 years, with a grace period of two years. The loans could be used for financing working capital, acquiring, reconstructing or expanding basic assets (apart from land), non-material investments, covering development, planning and financial costs during construction, research and development costs, and development of distribution channels in the country and abroad.
EIB has also signed the similar agreement with Societe General Bank too, stipulating financial support to SMEs in the amount of 60 million EUR. The total amount available to SMEs will be 110 million EUR, with some funds only available in early 2018.
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