The European Bank for Reconstruction and Development granted a credit line of 50 million euros (USD65 million) to Hungary’s CIB Bank to finance local small and medium-sized enterprises.
The funds will come in the form of short- and medium-term investment and capital loans, among others. EBRD recently granted 100 million euros in financing package for three subsidiaries of the Intesa Sanpaolo Group, including CIB Bank.
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The Intesa Sanpaolo Bank in Bosnia-Herzegovina received 20 million euros in credit line while 30 millions euros went to Serbia’s Banca Intesa Beograd.
