News

Microloan line for efficiency, housing, agriculture

Published

June 2, 2015

Comments

comments icon

0

Share

Published:

June 2, 2015

Comments:

comments icon

0

Share

The European Bank for Reconstruction and Development is supporting the expansion of non-banking financial services in Bosnia and Herzegovina with a EUR 6 million loan to Partner Microcredit Foundation for on-lending to micro and small enterprises.

The funding will help the company to develop energy efficiency loans for housing and agricultural products following the destructive impact of the floods in May 2014, according to EBRD. Medium to long-term refinancing for microfinancial institutions is limited and has become less available in the last few years in Bosnia and Herzegovina, the bank said. Despite the relatively low share of the banking sector assets, the microfinance sector is an important source of funding for more than 200,000 clients which are not served by local banks, the press release said. The financing of this project comes under the EBRD’s Small Business Initiative, a platform for supporting micro, small and medium-sized enterprises (MSMEs) through the Bank’s partner financial institutions.

„We are pleased to secure this way of financing with the EBRD. It will help Partner Microcredit Foundation to strengthen its position and increase competitiveness in the microfinance market”, said Senad Sinanović, head of Partner Microcredit Foundation, as quoted by Indikator.ba.

Related Articles

eds ceo biljana komnenic elektrodistribucija srbije

Biljana Komnenić takes helm of Serbia’s DSO

22 July 2024 - The Government of Serbia has dismissed the acting director of distribution system operator Elektrodistribucija Srbije, Bojan Atlagić

sarka jablonska, cut energy use and emissions

Every watt counts: Simple steps to cut energy use and emissions

22 July 2024 - Reducing energy consumption in Europe is crucial for environmental and economic reasons

serbia dso eib loan smart meters elektrodistribucija srbije dubravka de groot

Serbia secures EUR 80 million to replace 400,000 smart electricity meters

22 July 2024 - Distribution system operator Elektrodistribucija Srbije and the European Investment Bank have signed an EUR 80 million loan agreement

serbia lithium memorandum eu scholz vucic

Government of Serbia signs MoU with EU backing Rio Tinto’s Jadar lithium project

19 July 2024 - Serbia and the EU have signed the MoU on strategic partnership in the sectors of sustainable raw materials, battery value chains and electric vehicles