EBRD Grants Credit Line to Hungarian Bank

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.

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.

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    Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.