Eastern Europe Secures Massive Funding from Lenders

The World Bank, European Bank for Reconstruction and Development and European Investment Bank unveiled a joint financing worth EUR24.5 billion (USD31 billion) to help ailing eastern and central European economies,

reported. The two-year initiative will provide rapid and massive funding to banks to ensure that small and medium-sized enterprises have access to capital. The three lenders vowed to raise other funding resources for the region, which will be provided in the form of equity and debt finance, credit lines and political risk guarantees.