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The European Investment Fund (EIF) and the European Union announced the first EaSI Funded Instrument loan transaction in Serbia, worth €10 million. The loan will allow Opportunity Bank Serbia (OBS), the only specialised financial services provider for micro and small enterprises on the Serbian market, to increase its outreach towards vulnerable entrepreneurs, particularly in rural areas.

The transaction will enhance the lending capacity of Opportunity Bank Serbia, whose financial offer is complemented with non-financial services. The bank will distribute the loans under terms more favorable to existing commercial loans, and provide entrepreneurs complementary education to improve on their business management skills.

The EU Programme for Employment and Social Innovation (EaSI) aims at supporting the EU’s objective of high level employment, adequate social protection, fighting against social exclusion and poverty and improving working conditions. The EaSI programme’s Microfinance and Social Entrepreneurship axis consists of a range of EU level financial instruments funded by the European Union and managed by the European Investment Fund.

You can read the official EIF announcement HERE