EBRD ready to fund agricultural companies in Serbia
The European Bank for Reconstruction and Development (EBRD) invested some EUR 300 mil in the agricultural business sector and we are ready to continue funding all quality projects and companies in that sector which are not indebted, Gilles Mettetal, the head of the department for agricultural business in EBRD has said today.
- We expect another project in Serbia – Mettetal said and reminded that yesterday the Memorandum of understanding with the minister of agriculture, Snezana Bogosavljevic-Boskovic and the Food and Agriculture Organization of the United Nations was signed.
Upon today’s signing of the Contract on crediting the Montenegrin Goranovic company, at the EBRD offices in Belgrade, he pointed out that the bank wants to credit quality companies which have quality projects, well corporate management, which take care about their environment, etc.
The Goranovic company manager, Djordjije Goranovic, who signed the EBRD loan contract of EUR 5 mil, says that he is planning to return the largest portion of the funds for refunding the existing loans and a portion of it for new technology development.
The EBRD heads defined that a loan of five million euros within the LEF project, totaling EUR 405 mill, a is planned for a long-term funding of SMEs at the Balkans, Turkey and south and east Mediterranean region.
Mettetal reminded that in Serbia EBRD invested in successful agricultural companies such as Victoria Group, MK Group and Carnex and it funded retail chains such as Idea. When asked how much time it takes until EBRD approves a loan to a company, he said it approximately takes six months.
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