The European Bank for Reconstruction and Development (EBRD), an international finance institution, has provided a EUR 20 million loan, the equivalent of over USD 26.9 million, to Intesa Sanpaolo Banka d.d. BiH, a commercial bank in Bosnia and Herzegovina that is majority-owned by Intesa Sanpaolo Group of Italy. The line of credit will be on-lent to small and medium-sized enterprises (SMEs). The loan is part of a EUR 100 million financing package for subsidiaries of Intesa Sanpaolo Group. The package also includes a EUR 30 million loan, the equivalent of over USD 40.4 million, to Banca Intesa Beograd in Serbia, and a EUR 50 million loan, the equivalent of over USD 67.4 million, to CIB Bank in Hungary, both to support lending to SMEs. Furthermore, the package is part of EUR 24.5 billion pledge, the equivalent of over USD 33 billion, by EBRD, the World Bank and the European Investment Bank (EIB) to support banks and other businesses in Eastern Europe.
By Christopher Maggio, Research Assistant
About
European Bank for Reconstruction and Development (EBRD)
Description
The European Bank for Reconstruction and Development (EBRD) is an international finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Central Europe and Central Asia. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses as well as commercial banks and non-bank microfinance institutions (MFIs).
About
Intesa Sanpaolo Banka d.d. BiH
Description
Intesa Sanpaolo Banka d.d. BiH is a commercial bank in Bosnia and Herzegovina. It is majority-owned by Intesa Sanpaolo Group, an Italian banking group formed from the merger of Banca Intesa and Sanpaolo IMI. It offers various products including loans to small and medium-sized companies, savings, and deposits. As of December 31, 2008, the bank has assets worth BAM 1.01 billion, the equivalent of over USD 697 million.
Additional Resources
EBRD press release entitled ‘More EBRD financing for businesses in Bosnia and Herzegovina’: http://www.ebrd.com/new/pressrel/2010/100331.htm
MicroCapital Microfinance Universe profile: European Bank for Reconstruction and Development (EBRD)
MicroCapital Microfinance Universe profile: Intesa Sanpaolo Banka d.d. BiH
MicroCapital Microfinance Universe profile: Banca Intesa Beograd
MicroCapital Microfinance Universe profile: World Bank
MicroCapital Microfinance Universe profile: European Investment Bank (EIB)
Intesa Sanpaolo Banka d.d. BiH Financial Report 2008: http://www.intesasanpaolobanka.ba/userfiles/file/gi2008/Godisnji%20ENG2008.pdf
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