The European Investment Bank has agreed to loans worth €650 million for Fiat’s venture in the Balkan state and Serbian small- and medium-sized firms. The Fiat venture in Serbia will get €500 million and the remaining €150 million will go to small-and medium-sized firms.
The credit facility for the Serbia venture has been secured to finance its investments in modernization and expansion of production capacity of an automotive plant in Kragujevac. The loan for SMEs and mid-caps will provide support for the development of the country’s financial system in favor of SMEs and mid-caps to sustain the country’s economic recovery path.
