Three large multilateral banks announced a joint initiative on Friday (27 February) to lend up to €24.5 billion to central and eastern European banks currently struggling in the global credit shortage.
The European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD and the World Bank scheme is designed to enable eastern banks to restart lending to the real economy and in particular to small and medium enterprises (SMEs) in the region.
"This is a tim...
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