The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a loan of EUR 15 million (USD 19.2 million) to UniCredit Serbia, a subsidiary of the Italy-based financial services company UniCredit, to expand lease financing to small and medium-sized enterprises (SMEs) in Serbia. The funds are expected to boost the long-term leasing of machinery and equipment in the manufacturing and renewable energy industries. As reported by MicroCapital at the time, EBRD recently announced plans to provide a loan of EUR 30 million (USD 39 million) in two installments to UniCredit Serbia for on-lending to SMEs. It is unclear whether this smaller loan is a tranche of the larger loan or if it is separate.
In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion). UniCredit Group has 9,500 branches in 22 countries in Europe. For the year 2011, UniCredit Group reported total assets of EUR 926 billion (USD 1.19 trillion) [2]. For the year 2012, UniCredit Serbia reported total assets of RSD 244 billion (USD 2.8 billion) [3].
By Brendan Millan, Research Associate
About European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) is a multilateral 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 Eastern Europe, Central Asia and North Africa. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).
About UniCredit Bank Serbia
UniCredit Bank Serbia is a member of UniCredit Group, an Italy-based financial institution. UniCredit Group has 9,500 branches in 22 countries in Europe. For the year 2011, UniCredit Group reported total assets of EUR 926 billion (USD 1.19 trillion). For the year 2012, UniCredit Serbia reported total assets of RSD 244 billion (USD 2.8 billion).
Sources and Additional Resources:
[1] European Bank for Reconstruction and Development: “UniCredit Leasing Serbia II”, http://www.ebrd.com/pages/project/psd/2013/45062.shtml
[2] UniCredit Group: “2011 Financial Report”, https://www.unicreditgroup.eu/content/dam/unicreditgroup/documents/en/investors/financial-reports/2012/2011%20Consolidated%20Reports%20and%20Accounts.pdf
[3] UniCredit Serbia: “Financial Statement 2012”, http://www.unicreditbank.rs/doc/Izvestaj%20UniCredit%202012eng.pdf
MicroCapital.org story, March 25, 2013, “European Bank for Reconstruction and Development Plans to Invest $20m in Da Vinci Private Equity Fund II for Financial Infrastructure SMEs in Commonwealth of Independent States”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-plans-to-invest-20m-in-da-vinci-private-equity-fund-ii-for-financial-infrastructure-smes-in-commonwealth-of-independent-states/
MicroCapital.org story, March 12, 2013, “EBRD Loan of $39m to UniCredit Bank Serbia for On-lending to Small and Medium-sized Enterprises Pending Final Approval,” https://www.microcapital.org/microcapital-brief-ebrd-loan-of-39m-to-unicredit-bank-serbia-for-on-lending-to-small-and-medium-sized-enterprises-pending-final-approval/
MicroCapital.org story, March 21, 2011, “European Bank for Reconstruction and Development (EBRD) Provides $89m to Finance Small and Medium-Sized Enterprises (SMEs) Through ProCredit Bank Moldova and UniCredit Bank Serbia”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-provides-89m-to-finance-small-and-medium-sized-enterprises-smes-through-procredit-bank-moldova-and-unicredit-bank-serbia/
MicroCapital Universe Profile: European Bank for Reconstruction and Development (EBRD), http://microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29
MicroCapital Universe Profile: UniCredit Bank Serbia, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Unicredit+Bank+Serbia
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