EBRD sets aside EUR 500 million for flood recovery in the region

As the Bank stated in a release, the funds are being provided under the Western Balkans and Croatia Finance Framework IV (WBFF IV), structured to accommodate potential demand for additional financing as a result of the recent floods in Bosnia and Herzegovina, Croatia and Serbia.

The EU, World Bank and UN are working with the authorities in the affected countries to prepare a damage assessment report over the next few weeks, the release reads.

The WBFF IV will provide credit lines as well as equity, hybrid instruments and guarantees to local banks and non-banking financial institutions in Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia for on-lending to micro, small and medium enterprises (MSMEs) and private borrowers.