The Export-Import Bank of China has agreed to provide a 50 million euro ($58.5 million) loan to UniCredit Bank Srbija for on-lending to companies importing Chinese products into Serbia, UniCredit Bank Srbija said on Thursday.
“This agreement represents an important step in strengthening economic ties between Serbia and China […] We believe that this project will create new opportunities for Serbian companies,” Nikola Vuletic, CEO of UniCredit Bank Srbija, said in a press release.
The agreement is the first of its kind between the Export-Import Bank of China and a commercial lender in the region of Central and Eastern Europe.
The Export-Import Bank of China is a state-funded and state-owned policy bank dedicated to supporting China’s foreign trade, investment and international economic cooperation.
UniCredit Bank Srbija is part of Italian banking group UniCredit and is the third largest bank in terms of assets among 19 active lenders in Serbia
($ = 0.854 euro)
Source Link