EBRD: EUR 500 million for region's flood recovery

LONDON - In a move designed to boost long-term lending to local businesses and private borrowers in the Western Balkans and Croatia, the European Bank for Reconstruction and Development (EBRD) is extending up to EUR 500 million for on-lending to partner banks.

The funds are being provided under the Western Balkans and Croatia Finance Framework IV (WBFF IV), structured to accommodate potential demand for additional financing as a result of the recent floods in Bosnia and Herzegovina, Croatia and Serbia, reads a statement delivered to Tanjug.

The EU, World Bank and UN are working with the authorities in the affected countries to prepare a damage assessment report over the next few weeks, the statement reads.

The WBFF IV will provide credit lines as well as equity, hybrid instruments and guarantees to local banks and non-banking financial institutions in Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia for on-lending to micro, small and medium enterprises and private borrowers.

Screenshot video Tanjug (Archive, illustration)