IFC pledges EUR 58 mln loan to Bancpost

The International Finance Corporation (IFC), a member of the World Bank Group, will provide a EUR 58 million loan to Bancpost, that will enable the bank to extend more loans to micro, small, and medium enterprises in Romania and help speed economic recovery. IFC is also providing a loan of EUR 38 million to Eurobank EFG a.d. Beograd, an EFG subsidiary in Serbia. Bancopost is a subsidiary of EFG Eurobank Ergasias S.A. in Greece. Under the Joint International Financial Institution Action Plan, the World Bank Group, including IFC, the EBRD and the European Investment Bank pledged to provide EUR 24.5 billion over two years to support the economies of Eastern Europe through the banking sector. The financial support of these institutions is exceeding the initial target, as a total of EUR 27 billion had been committed as of end-August 2010. editor@romania-insider.com (Photo source: Arhivafoto.ro)