Harrisons has advised the EBRD on its EUR 5 million loan to Banca Intesa Belgrade for on-lending to women-led businesses.
According to the firm, "this credit line will be backed by Swedish grants for technical assistance and advisory support shall boost investments by women entrepreneurs."
"In Serbia, women-led businesses are usually considered as riskier due to their small size and the fact that they tend to have less hard collateral. Under the new credit line, women entrepreneurs will benefit from risk-sharing, which the EBRD will cover in the amount of up to 8% of the loan amount. This will allow more women entrepreneurs, who would not otherwise be able to provide hard collateral, to apply for and obtain financing," Harrisons reported.
Harrisons has already advised the EBRD on three other loans to Banca Intesa Belgrade in the last year alone: a EUR 100 million loan for on-lending to small and medium-sized enterprises (as reported by CEE Legal Matters on April 4, 2023), a EUR 15 million loan part of the EBRD Youth in Business in the Western Balkans program (as reported on November 4, 2022), and an EUR 8 million loan for on-lending to eligible women-led small and medium-sized enterprises (as reported on June 21, 2022).