The European Investment Fund (EIF) and UniCredit Bank Serbia signed a new agreement, increasing the guarantee facility for small and medium-sized enterprises (SMEs) by EUR 130 million, the bank announced on May 17.
The guarantees are part of COSME - the European Commission’s program for SMEs.
Thanks to the new guarantee agreement, it is said, UniCredit Bank Serbia will offer new loans to SMEs with substantially reduced collateral requirements across the country.
The EIF will provide a direct guarantee to UniCredit Bank Serbia, enabling the bank to support SMEs at favorable conditions, including increased maturities.
As said, the bank will continue to offer working capital loans with tenor above three years, and investment loans with tenor above five years.