Representatives of Hypo Alpe Adria Group in Bosnia and Herzegovina (BH) and the European Investment Bank (EIB) announced the launch of cooperation on crediting projects for small and medium-sized enterprises (SME) and infrastructure projects on the municipal level, reports

Each of three members of Hypo Alpe Adria Group in BH was granted funds in the amount of EUR 25 million which will be used for crediting projects in the areas of food production, water supply, health, construction and equipment procurement.

A Board member of Hypo Alpe-Adria-Bank Thomas Carl Tomsich emphasised that SMEs are the basis of economic development and progress in all developed countries. He added that a new credit line ensured the financing of projects which will benefit citizens the most, given that the implementation of these projects will lead to the opening of new work places, as well as overall development of local communities in BH.

Hypo Alpe-Adria-Bank will provide an additional EUR 75 million for these projects. EIB representative Romualdo Massa Bernucci said that the first shipment of EUR 75 million is continuation of cooperation between the Hypo Group and EIB in the region.