Intesa Leasing and the Development Bank of Germany KfW have signed an agreement on a credit line worth a total of EUR 15 million. The funds will be approved by Intesa Leasing in the form of favorable loans for micro, small and medium enterprises and registered farms in rural areas.
Loans from this credit line are approved for a period of seven years, which will enable financing in a longer term than has been the case so far. As Intesa Leasing says, the funds are meant for clients in all regions of Serbia, with the exception of Belgrade and Novi Sad, and will be primarily meant for procuring agricultural and construction equipment, food industry machines and commercial vehicles.
– The credit line we've secured in cooperation with KfW and with support of the Cabinet of Germany confirms Intesa Leasing's choice of stimulating further economic recovery through favorable conditions of financing. Keeping in mind the fact that more than 70% of our portfolio consists precisely of leans to micro, small and medium enterprises, this credit line is in full harmony with our strategic orientation towards supporting the operations of this segment of the economy, as well as towards financing clients in rural areas – Nebojsa Janicijevic, president of the Executive Board of Intesa Leasing, stated on this occasion.
Arne Gooss, director of the Serbian office of KfW, pointed out that the program enabled better access to financial funds for rural areas and that it helped further development of Serbia's financial market.
– Including the latest line of EUR 15 million, the total funds for Serbia's economy secured through KfW, commercial banks and leasing companies for the purpose of enhancing the business conditions for micro, small and medium enterprises has exceeded EUR 600 million in the past 15 years. The activities of KfW are an important part of the German-Serbian initiative for sustainable growth and employment, which focuses on the possibility of generating further growth in the country – Gooss said.
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