EBRD granted three credit lines to EFG Bank - 230 million euros for Group's subsidiaries in Romania, Bulgaria and Serbia

The European Bank for Reconstruction and Development (EBRD) has signed three credit lines worth a total of €230 million for subsidiaries of Eurobank EFG Group in Romania, Bulgaria and Serbia, for on-lending to private businesses operating in the three countries.

The EBRD credit lines will provide Bancpost S. A. (Romania), Eurobank EFG Bulgaria and Eurobank EFG (Serbia) with longer term senior financing to support their funding base, diversify and extend the maturity of their liabilities and help them continue lending to the economies of these countries.

Under the project, Bancpost S.A. will receive €95 million, Eurobank EFG Bulgaria AD (Postbank) €75 million and Eurobank EFG a.d. Beograd €60 million of new funding from the EBRD.

- The EBRD is pleased to expand its cooperation with Eurobank EFG Group in order to enhance the availability of funding to businesses in Bulgaria, Romania and Serbia at a time when economic recovery remains relatively fragile - said Nick Tesseyman, EBRD Managing Director for Financial Institutions.

- A year ago, Eurobank EFG Group has contributed together with the international financial institutions to support the economies of the region through the Vienna initiative; we are pleased to be collaborating with EBRD once again to reinforce business growth in these countries as their economies seem to get over the crisis - said Mr. Giorgio Pradelli, General Manager of Eurobank EFG Group and Head of International activities.