Harrisons has advised the EBRD on its inaugural EUR 50 million loan to Serbia's AIK Banka for on-lending to local small and medium-sized enterprises.
According to the firm, Serbian SMEs "will benefit from better access to finance for their growth, green ambitions, and greater competitiveness. Small and medium-sized enterprises are the backbone of the Serbian economy and improving their access to finance is vital for Serbia’s sustainable and inclusive economic growth."
"The investment is also geared towards the development of Serbia’s banking sector through the exchange of knowledge and experience between the bank and its new partner," Harrisons reported. "The EBRD will share its international expertise with AIK Banka, which in turn will on-lend in line with the bank’s environmental and social standards. AIK Banka commits, under this agreement, to invest a minimum of 30% of the funds in Serbia's green economy."
The Harrisons team was led by Principal Mark Harrison and Consultant Ines Matijevic-Papulin and included Associate Mina Zeljkovic.