The European Investment Bank (EIB) and Erste Banka Novi Sad have signed an agreement on a EUR 50 million credit line for long-term financing of small and medium-sized, mid cap enterprises and local self-governments. Most of the funds (70%) will be used to finance the economy sector, while 30% are earmarked for local self-governments.
- Cooperation with the EIB allows us to approve these funds with lower than standard interest rates and long repayment periods that will depend on concrete projects for which the funds are allocated - said Slavko Caric, the chairman of the Erste Banka Executive Board.
Dominique Courbin, the head of Division Lending Operations in Slovenia, Croatia and the Western Balkans, and Alessandro Carrano, legal adviser, signed aforementioned agreement on behalf of the EIB, while Slavko Caric and Mihael Bajc, a member of the Erste Banka Executive Board, signed it on behalf of Erste Banka Novi Sad.
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