Harrisons has advised the EBRD on its RSD 1.2 billion loan to Serbian commercial bank 3Bank for on-lending to eligible sub-borrowers.
According to Harrisons, "the proceeds of the loan will be used to contribute expansion of lending to private businesses through working capital lines and investment loans to farmers, entrepreneurs, and micro, small, and medium-sized enterprises including those operating in economically less developed regions of the country. Furthermore, the transaction supports 3Bank’s growth strategy and provides a source of medium-term local currency funding."
"This is the first loan granted by the EBRD to 3Bank, which is a potential strong partner to reach micro, small, and medium-sized enterprises in Serbia, especially in rural areas," the firm informed.
3Bank specializes in microfinance, providing micro, rural, agro, as well as small, and medium-sized enterprises loans and other financial services to clients in Serbia.