The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, has partnered with UniCredit Bank Banja Luka (UB), the unit of Italy’s UniCredit Group that operates in Bosnia and Herzegovina, to launch EBRD’s “Western Balkans Women in Business” program with a EUR 2 million (USD 2.3 million) credit provided to UB. The loan agreement, which is the first between the EBRD and UB, represents the first disbursement of up to $23m earmarked by the EBRD for “on-lending to women-led SMEs (small and medium-sized enterprise) in the Western Balkans” under its Women in Business program.
The program provides support to women-led SMEs such as financing, technical assistance, risk mitigation strategies and business advisory services. The head of EBRD’s Bosnia and Herzegovina Office, Ian brown, said: “While we know that women play an important role in business, we believe that expanding their role is an important part of fulfilling the region’s economic potential.”
By Mathew Cerf
(Source: microcapital/ photo wunc)
