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Cdp and Banca Etica mobilize 30 million euros for microfinance in the Western Balkans

(ANSA) - BELGRADE, 11 NOV - Cassa Depositi e Prestiti (Cdp) and Banca Etica have signed a 15-million-euro financing agreement under the "Sustainable Access to Finance for Entrepreneurship" (SAFE) initiative, which is being promoted by Cdp with support from the European Union via the Western Balkans Investment Framework (WBIF). The operation, which is supported by a Cdp guarantee of approximately 5 million euros, which is fully counter-guaranteed by the EU, will allow for the mobilisation of a 30-million-euro microfinance portfolio in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia. According to the statement, the funds will be disbursed through local microfinance institutions that Banca Etica has identified and selected. This will increase credit availability for micro-entrepreneurs and small businesses, with a particular emphasis on those led by women and young people. The initiative seeks to promote financial inclusion, job creation, and local economic growth. (ANSA).