Serbian businesses are set to benefit from a €2mn trade finance line granted by the European Bank for Reconstruction and Development (EBRD) to Privredna Banka. The facility will be issuing guarantees used to support its clients’ foreign trade activities.

In total, the EBRD has issued five trade finance lines to issuing banks in Serbia under its Trade Facilitation Programme (TFP), and it is expected that this latest facility will continue to success of previous loans in opening up trade opportunities in Serbian companies.

EBRD’s TFP programme aims to promote foreign trade with countries within Eastern Europe and the CIS region. Through the programme, the bank is able to offer guarantees to international confirming banks. Over 107 issuing banks within the region are participating in the programme.

Privredna Banka is a small to medium-sized commercial bank based in Belgrade, and has a specific focus on retail banking and SMEs.