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September 21, 2003 - Sunday |
EBRD to invest 2.6 million euros in Volksbank Belgrade
19:34 BELGRADE, Sept 21 (Tanjug) - The European Bank for Reconstruction and Development (EBRD) will invest about 2.6 million euros in Volksbank Belgrade by the end of the year, becoming the owner of 15 percent of the bank's shares, while Austria's Volksbank Group will keep the ownership over the majority 85-percent block of shares. Volksbank Belgrade told Tanjug that the EBRD had signed a contract on cooperation with Volksbank Group aimed at providing financial support to SMEs in central and eastern Europe, pledging to invest about 150 million euros in regional banks that are part of Austria's Volksbank Group.
The EBRD plans to assist the further development of operation of Volksbank Belgrade, primarily in the field of financial support to SMEs and financing of cities and municipalities in Serbia.
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