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EBRD backs Intesa’s SME lending

25 February 2010

The EBRD and Intesa Sanpaolo Group have created a financing package for small and medium enterprises in central and Eastern Europe.

Read more: [EBRD Intesa Sanpaolo Group] [ EBRD Intesa Sanpaolo SMEs] [Intesa financing package]

The EBRD and Intesa Sanpaolo Group (ISG) have arranged a Eu100million package for regional small and medium enterprises (SMEs) in central and eastern Europe.

The financing will be used for on-lending to SMEs through ISG’s subsidiaries in Bosnia and Herzegovina, Hungary and Serbia.

Subject to...


Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.
8%
No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.
23%
No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.
23%
Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.
46%

Quote

A collateral manager may manage collateral well but it won’t tell you if someone’s about to go belly up.

Steven Pout, Agriservice - Brazil: Agri-sector bounces back - Trade Finance, July/August 2010