National Bank of Greece SA, the country’s biggest lender, will get 350 million euros ($465 million) in loans from the European Bank for Reconstruction and Development to boost lending in Bulgaria, Romania and Serbia.
The United Bulgarian Bank will receive 150 million euros, with Banca Romaneasca and Serbia’s Vojvodjanska Banka AD each getting 100 million euros, the London-based EBRD said in an e- mailed statement today. The lenders are subsidiaries of National Bank of Greece and the loans will be disbursed in two equal tranches.
The funds “will help to ensure a continued flow of credit to private companies operating in these countries, which is essential to foster development in difficult macro-economic conditions,” Nick Tesseyman, managing director for financial institutions at the EBRD, said in the statement.
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