(Alliance News) - Intesa Sanpaolo Spa announced on Thursday that Banca Intesa Beograd, a subsidiary of the group, is welcoming the new offices of Cassa e Depositi e Prestiti for the Western Balkans in its Belgrade office, thus further strengthening the partnership in favor of the development of economic relations between Italy and Serbia and the increase of opportunities for cooperation and synergies between the two groups in the Balkan area, particularly in support of SMEs.

In addition, BIB AND CDP have signed a long-term financing agreement - as part of the Western Balkans Investment Framework promoted by the European Union - to support the growth of Serbian SMEs active in areas of high ESG impact.

CDP's resources will be able to cover up to a maximum of 50 percent of the financing, and the remainder will be granted directly by Banca Intesa Beograd.

The partnership with CDP in Serbia opens a new chapter in offering services to local SMEs and Italian companies interested in doing business in the region, also with a view to supporting international supply chains.

"The long-term loan agreement for an amount of EUR10 million - the subject of the agreement signed by our Bank Intesa Beograd, a leader in the Serbian market - aims to support Serbian Small and Medium Enterprises that intend to seize the many opportunities that the Green sectors, social entrepreneurship, sustainable agriculture, circular economy and ecotourism are able to guarantee," comments Marco Elio Rottigni, Chief International Subsidiary Banks Division.

Intesa Sanpaolo's stock is down 1.9 percent at EUR2.80 per share.

By Chiara Bruschi, Alliance News reporter

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