SPECIAL SEENEWS: IFC mulls providing up to 35 mln euro in loans to Eurobank’s Serbian unit - Net FDI in Montenegro up 9.3% in Q1

IFC mulls providing up to 35 mln euro in loans to Eurobank’s Serbian unit

BELGRADE (Serbia), May 29 (SeeNews) - The International Finance Corporation (IFC) said it is mulling lending a total of up to 35 million euro ($38.4 million) to Eurobank Beograd, a subsidiary of Eurobank Ergasias, to support its lending portfolio.

The IFC’s funding would consist of two loans - an up to 15 million euro loan for housing/mortgage lending and an up to 20 million euro loan for trade finance activities, the multi-lateral lender said in a statement on Thursday.

The proposed financing is pending review by the IFC board on June 29.

The project should directly stimulate development and growth in Serbia’s mortgage market through access for finance for low income clients, help the bank to increase its market share in the mortgage sector, support growth and export promotion in the country and promote job opportunities by supporting growth to key economic sectors, the IFC said.

Eurobank Beograd is the seventh largest bank by total assets in Serbia. It is a universal bank, operating through a network of more than 100 branches and business centers across the country.

($=0.9118 euro)

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Net FDI in Montenegro up 9.3% in Q1

PODGORICA (Montenegro), May 29 (SeeNews) - The net inflow of foreign direct investment (FDI) in Montenegro increased by a real 9.3% on the year to a preliminary 86.2 million euro ($94.5 million) in the first three months of the year, central bank data indicated.

Total FDI inflow amounted to 100 million euro in the first quarter of 2015, down by an annual 5.4%, while outflow totaled 13.8 million euro, a decline of 48.6% on the year, the central bank said in a bulletin posted on its website on Wednesday.

Inflow in the form of equity investments increased by 52.5% on the year to 52.5 million euro through March, including 17.7 million euro that accounted for investments in companies and 34.7 million euro for investments in real estate.

Inflow of FDI in the form of intercompany debt accounted for 45.3% of first-quarter total inflow or 45.3 million euro.

In the outflow structure, outflow from residents’ investments abroad amounted to 6 million euro through March while withdrawal of non-resident’s investments amounted to 7.8 million euro.

In 2014, the net inflow of FDI in Montenegro rose by an annual 9.3% to 354 million euro.

($=0.9122 euro)

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