PRISTINA (Kosovo), April 10 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) said on Thursday it has signed a 5 million euro ($5.53 million) loan agreement with Kosovo’s Banka per Biznes (BpB) to support on-lending to small and medium-sized enterprises (SMEs).
The financing will be backed by the European Union through investment incentives totalling 10% of sub-loans and technical assistance, to encourage automation and digitalisation investments in the SMEs, the EBRD said in a press release.
At least 60% of the EBRD financing targets projects aligned with its Green Economy Transition (GET) approach, which aims to scale up EBRD’s contribution to addressing the climate and environmental crisis.
Banka per Biznes, established in 2001, was the seventh largest bank in terms of assets among 11 operating in Kosovo at end-September, according to the latest data released by Kosovo’s banking association.
($ = 0.903 euro)