Harrisons has advised the EBRD on its EUR 20 million loan to Banca Intesa Beograd.
According to Harrisons, the loan will be used to support Serbian corporates, small businesses, and municipalities "facing a decrease in their activities and turnover due to the Covid-19 pandemic.” According to the firm, "this short-term financing is part of the EBRD's Covid-19 Solidarity Package to support its existing clients in response to the economic consequences of the coronavirus pandemic.”
Banca Intesa Beograd, a subsidiary of Intesa Sanpaolo, primarily focuses on retail, investment, and private banking, as well as investment management and public finance. The bank holds a market share of 16 percent by total assets as of the end of 2019, and employs approximately 3,000 people across 154 offices in Serbia.
The European Bank for Reconstruction and Development has invested more than EUR 6.3 billion in 277 projects in Serbia to date. The EBRD is focusing on support for private-sector development, improvement of public utility services, and on the overall transition towards a green economy.
Harrisons’ team consisted of Consultant Ines Matijevic-Papulin, Senior Associate Jovan Cirkovic, and Associate Mina Markovic.
