The European Fund for Southeast Europe (EFSE)
said on Tuesday it has issued a 2 million euro ($2.1 million) senior loan to
Opportunity Bank Serbia in support to micro and small enterprises (MSEs) and
agricultural clients throughout the country.
Opportunity Bank has a clear
focus on providing finance to the underserved segment of MSEs and agricultural
clients with an emphasis on rural areas, EFSE said in a statement.
The
Serbian lender has a network of eight branches and 13 smaller outlets, which
cover over 80% of the country.
The loan facility from EFSE will help
Opportunity Bank increase its outreach to this group of clients who need better
access to financial services, especially loans, the bank's president of the
executive board, Vladimir Vukotic, said in the statement.
The EFSE,
initiated by German development bank KfW with the financial support of the
German federal ministry for economic cooperation and development and the
European Commission, aims to foster economic development and prosperity in
Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria,
Croatia, FYROM, Georgia, Kosovo, Moldova, Montenegro, Romania, Serbia, Turkey
and Ukraine