March 15 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday it is providing a loan of 15 million euro ($16.3 million) to Serbia's NLB Komercijalna Banka for on-lending to local small and medium-sized enterprises (SMEs).
The funds will be used to provide sub-loans to eligible SMEs to finance investments in new green technologies and equipment to increase their sustainability and bring their businesses in line with EU directives and other relevant international standards, the EBRD said in a press release.
The SMEs will also be eligible for grants up to 15% of the loan amount supported by Luxembourg, Norway and the U.S. through the Small Business Impact Fund.
NLB Komercijalna Banka has more than a million active clients and one of the largest automated teller machine (ATM) networks and branch systems in Serbia.
($ = 0.9813 euro)
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