IFC Supports Eurobank Increase Mortgage Lending and Trade Finance in Serbia
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IFC Supports Eurobank Increase Mortgage Lending and Trade Finance in Serbia
Belgrade, Serbia, September 3, 2015–IFC, a member of the World Bank Group, is providing financing of up €35 million to Eurobank a.d. Beograd to strengthen the bank’s mortgage lending and increase trade finance for companies in Serbia.
Long-term funding is critical to enabling capital investment and making housing finance affordable, yet it remains scarce in the Serbian banking sector. By working with Eurobanka.d. Beograd, IFC is boosting these financial tools andsignaling its confidence in the Serbian banking sector.
IFC is providing two loans toEurobanka.d.Beograd, a €15million loan for financing mortgage lending growth and a€20 million loan to provide working capitalfinancing for Serbian companies engaged in imports and exports. IFC provided a $60 million trade facility to the bank in during the 2011-2013 period, and a €38 million loan in 2010 to support small and medium enterprises in Serbia.
“We are very pleased to be signing this agreement today and expanding our already successful cooperation with one of the leading international financial institutions such as IFC. By doing so we also confirm our strategic focus on supporting the retail sector andSerbian export-oriented companies. Thanks to this agreement, we will have an opportunity to offer clients with mortgage loans under highly favourable terms, tenor and interest rate” saidFilipposKaramanolis, President of the Executive Board, Eurobank a.d. Beograd.
Eurobank has been operating in Serbia since 2003 and today it is ranked among the leading foreign investors and financial institutions in the country, offering a wide range of standard and innovative products and services to retail and corporate clients. The bank has a diverse corporate social responsibility program, through which it has invested more than €4 million in projects in education, public health, environmental protection, culture, and inclusive social development.
“One of IFC’s priorities is providing support to the financial sector through capital investments and long-term financing to major banks that promote systemic stability,”saidThomas Lubeck, IFC’sRegional Manager for the Western Balkans. “It is essential to keep the flow of credit to individuals and companies in Serbia and encourage further development and economic stability of the country.”
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit
About Eurobank
Eurobank is a European banking organization with total assets of €75.5 billion (as at March 31, 2015), offering universal banking across eight countries. Eurobank has a dynamic presence in Greece and holds lead positions in Bulgaria, Romania and Serbia, offers discerning Wealth Management services in Cyprus, Luxembourg and London and is also present in Ukraine. For more information on Eurobank, please visit
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