EFSE Lends 10 Mln Euro to Halkabank Macedonian Unit to Back MSEs

Dec 2014
Macedonia, December, 16 2014 - The European Fund for Southeast Europe (EFSE) said on Tuesday it provided a 10 million euro ($12.4 million) senior loan to the Macedonian unit of Turkey's Halkbank in support of the housing sector as well as micro and small enterprises (MSEs) in the country.

“The credit facility strengthens Halkbank’s ability to offer adequately structured housing and home-improvement credit products to retail borrowers as well as provide long-term investment loans to match the financing needs of MSEs,” the EFSE said in a statement.

Skopje-based Halkbank is a medium-sized bank in terms of assets. The bank’s loan portfolio rose to 221.4 million euro in 2013 from 147.4 million euro a year earlier.

The EFSE, initiated by German development bank KfW with the financial support of the German federal ministry for economic cooperation and development and the European Commission, aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Georgia, Kosovo, Moldova, Montenegro, Romania, Serbia, Turkey and Ukraine.

Source : SeeNews

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