EIB lends Intesa 40 mln euros to support Bosnia SMEs
SARAJEVO Dec 23 (Reuters) - The European Investment Bank (EIB) has extended a 40 million euro ($54.7 million) loan to the Bosnian unit of Italian bank Intesa SanPaolo in order to support small and mid-sized companies, Intesa said on Monday.
The loan offers a much-needed boost for small firms in the impoverished Balkan country after the European Commission cancelled funding for the sector after Bosnian authorities failed to agree on how to manage the money.
Intesa's loans will help finance infrastructure projects backed by local authorities and investment in energy, infrastructure, the environment, health, education and services, said Almir Krkalic, Intesa's general manager in Bosnia. ($1 = 0.7315 euros) (Reporting by Daria Sito-Sucic; editing by Tom Pfeiffer)
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