EIB €110 million to boost SMEs and Microfinance in Bosnia

Microfinance Focus, Nov. 30, 2009: European Investment Bank (EIB) will provide €110 million of three loans to Intesa Sanpaolo Banka, Republic of Srpska Investment-Development Bank and LOK Microfinance to support SME and Micro-financing programs, according to a recent release from the Bank.

Interesa Sanpaolo Banka and will use the €50 million loan to finance projects promoted by SMEs or local authorities in the fields of the knowledge economy, energy and environmental protection throughout the country. Another €50 million will be provided to IRBRS for SMEs and local infrastructure projects with a focus on poorer areas. Lok Microfinance will also establish a €10 million facility micro, small and medium enterprises (SMEs) in the agriculture, trade, manufacturing and service sectors.

The European Investment Bank (EIB), the long-term financing institution of the European Union, supports capital investment projects furthering the policy objectives of the Union. In the countries of the Western Balkans, the financing operations of the EIB contribute to facilitating the integration process with the European Union.
Total EIB financing in Bosnia and Herzegovina between 2001-2009 totaled €1.023 million, concentrating on the transport, energy and environment sectors and SME projects.

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