NewsEFSE and Opportunity Bank support MSEs in Serbia
Frankfurt and Belgrade, [April 21st ] – The European Fund for Southeast Europe (EFSE) and Opportunity Bank Serbia team up to support micro and small enterprises across Serbia. For this purpose the EFSE provided a EUR 2 million senior loan to Opportunity Bank.
Opportunity Bank and EFSE have been working together since 2007. Opportunity Bank has a clear focus on the still underserved financial markets for micro and small enterprises (MSEs) with emphasis on rural areas. It has a network of 8 branches and 14 smaller outlets, which cover over 80% of the country. In addition the bank employs mobile client advisors to serve the less populated areas thus underpinning its strong client relationship management.
“We are pleased to continue our strong partnership with Opportunity Bank through this loan facility,” says Monika Beck, Chairperson of the Board of EFSE. “Due to its exclusive focus on MSEs, Opportunity Bank is an excellent fit with the Fund’s target clients.”
“Micro and Small Businesses and individual entrepreneurs, especially those in the rural areas of Serbia have always been a very important group of clients for Opportunity Bank Serbia because of our goal to encourage self-employment and create new jobs” said President of Opportunity Bank’s Executive Board, Mr. Vladimir Vukotic, adding that the loan facility from EFSE will help Opportunity Bank increase its outreach to this group of clients with the need for a better access to financial services, primarily loans.