The European Bank for Reconstruction and Development (EBRD) representatives signed on Monday three credit lines totaling EUR 350 million with the National Bank of Greece in Bulgaria, Romania and Serbia that will be used for further granting of loans to companies in those regions, the EBRD released.

Out of the total EBRD loan, Vojvodjanska banka, Serbia, will be granted EUR 100 million, United Bulgarian Bank will get EUR 150 million, while Banca Romaneasca will be granted EUR 100 million.

The EBRD expressed its satisfaction to be expanding their cooperation with the subsidiaries of National Bank of Greece in the region, given that offering support to these banks and real economies in Bulgaria, Romania and Serbia is important for economic recovery boost.

This project will secure a continuous credit inflow to private companies which do business in these states, which is of crucial importance for development in difficult macroeconomic conditions, EBRD Managing Director in charge of the Financial Institutions Nick Tesseyman stated.