EFSE and Intesa Sanpaolo Banka in Bosnia and Herzegovina Sign EUR 6 Million Cred...

Apr 2010
Frankfurt & Sarajevo, Bosnia and Herzegovina, April, 08 2010 - The European Fund for Southeast Europe (EFSE), the world’s largest microfinance investment fund, is extending a EUR 6 million credit line to Intesa Sanpaolo Banka d.d. Bosna i Hercegovina, Sarajevo, Bosnia and Herzegovina, to address the housing needs of the population of Bosnia and Herzegovina and improve living conditions in the country.

It is part of EFSE’s strategy to support housing finance in the financial market of Bosnia and Herzegovina. Particularly, this involves improving access to loans for housing and home improvement for low-income groups.

Mr. Almir Krkalic, Chief Executive Officer of Intesa Sanpaolo Banka d.d. BiH, said at the occasion of signing this contract, “Intesa Sanpaolo Banka d.d. BiH, member of Intesa Sanpaolo Group, since 2000 has had successful cooperation with EFSE. This new credit line in the amount of EUR 6 million is intended for financing retail housing loans. Our goal is to offer to our clients financing sources of a better quality and more simple conditions, in order to resolve their housing issues”.
Intesa Sanpaolo Banka d.d. BiH, member of Intesa Sanpaolo Group, provides services to 122,000 customers through a network of 47 branches. As a commercial bank, it offers a wide range of products both for corporate and retail customers.

“In Bosnia and Herzegovina, especially in areas outside urban centers, there is a great demand for better quality housing. EFSE’s loan to Intesa Sanpaolo Banka addresses this need and will help improve living standards”, said Sylvia Wisniwski, Chief Operating Officer of the EFSE.

Currently, the Fund has an outstanding portfolio of EUR 25 million with the Bank. These include funds for on-lending to micro and small enterprises as well as to individuals and families for housing and home improvement.

Source : Business Wire

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