The European Fund for Southeast Europe (EFSE) has provided €10m loan to Intesa Leasing Belgrade to foster the development of Serbian micro and small enterprises (MSEs).

Intesa Leasing Belgrade finances leases for different types of equipment and commercial freight vehicles for MSEs.

EFSE was founded by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission.

It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, the Former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey.

EFSE  board  chairman  Christoph  Tiskens  said:  “The  expansion  of  our  partnership  with  Intesa  Leasing Belgrade shows our commitment to MSEs, and the additional funding will provide more micro and small businesses with much?needed access to financing.”

Nebojsa Janicijevic, president of Intesa Leasing’s executive board, said: “The continuation of the successful cooperation with the EFSE, which recognized Intesa Leasing as a reliable partner over three years ago, is of special importance to us since it enables us to offer funding under favorable terms to MSEs, which account for a significant part of our client base. The partnership with the EFSE is highly important for the implementation of the business strategy of Intesa Leasing, which for a number of years has been seeking to provide this strategic segment of the Serbian economy with financing terms that are close to those on more developed markets.”

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By GlobalData