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Karanovic & Partners Advises GGF on Local Currency Loan to UniCredit in Serbia

Karanovic & Partners Advises GGF on Local Currency Loan to UniCredit in Serbia

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Karanovic & Partners has advised the Green for Growth Fund on extending its RSD 1.7 billion loan facility with UniCredit Bank Serbia.

According to the firm, the transaction is a part of GGF’s efforts "to provide finance for energy efficiency and renewable energy investments in the Southeast Europe region."

"We are pleased to strengthen our strategic partnership with UniCredit Bank Serbia, a well-established market leader," GGF Board Member Christopher Knowles commented. "Local currency lending is a key component of responsible finance, as it protects unhedged borrowers from exchange rate risk. As an impact investment fund focused on mitigating climate change and promoting sustainable economic growth, the GGF is keen to advance the practice of local currency financing in Serbia and the region overall. That is why we are pleased to be furthering our relationship with UniCredit Bank, especially during the ongoing pandemic."

"We are proud that UniCredit Bank Serbia is a partner of the first Green for Growth Fund transaction in local currency on the Serbian market," UniCredit Bank Serbia CEO Nikola Vuletic added. "This transaction is a great indicator that some of the most important and innovative financial institutions like the GGF rely on our expertise. Besides that, this partnership proves that UniCredit Bank Serbia is a reliable partner and one of the local leaders in financing renewable energy projects."

The Karanovic & Partners team was led by Partner Katarina Guduric and Associate Dimitrije Ilic.

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