EBRD to support Serbian SMEs with 16.5 mln euros

The European Bank for Reconstruction and Development (EBRD) has secured 16.5 mln euros to help improve the competitiveness of Serbian SMEs and support women entrepreneurs.

24 Jun 2019 14:11

BELGRADE - The European Bank for Reconstruction and Development (EBRD) has secured 16.5 mln euros to help improve the competitiveness of Serbian SMEs and support women entrepreneurs.

"Small and medium-sized enterprises in Serbia will benefit from additional access to finance, thanks to a 16.5 mln euro financing package that the EBRD is extending to Banca Intesa Belgrade (BIB), a long-standing partner of the Bank.

Fifteen million euros will be extended for on-lending to SMEs for investments that will implement EU standards and improve the competitiveness of local companies on domestic and international markets. In addition to loans, SMEs will also benefit from investment incentives from the European Union equalling 15 per cent of the loan amount, as well as from advice and know-how to introduce EU standards.

A further 1.5 mln euros will be allocated exclusively for the support of women entrepreneurs. This financing is an extension to a previous 10 mln euro credit line which aims to reach a greater number of Serbian businesswomen," EBRD said in a statement.


Photo: Banca Intesa

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