The European Bank for Reconstruction and Development (EBRD) has signed a 20 million euro credit line agreement with UniCredit Leasing in Serbia to boost the competitiveness of small and medium-sized enterprises (SMEs), it was announced today.
More than half of the total amount of the credit line will support investments in green technologies and energy efficiency.
Small and medium enterprises will thus have access to funds that can help them invest in improving their business and reaching EU standards, the EBRD said in a statement.
The loan will be able to be used to improve technologies, work processes or services, especially in improving product quality, health and safety and environmental standards required in the EU market.
SMEs will also have access to technical support, including EBRD advisory support, and, upon successful completion of the investment, will be eligible for a grant of 15% of the total EU-funded loan.
This credit line is part of the Western Balkans SME Competitiveness Support Program, for which the EBRD provides loans and the EU grants and technical assistance. The aim of the program is to help small and medium-sized enterprises modernize their activities and take advantage of trade opportunities in the Western Balkans region and the wider European market.
In Serbia, the program is being implemented in cooperation with the Ministry of Economy, on whose proposal the European Union has approved an additional 10 million euros from the pre-accession (IPA) funds for the EBRD Program for Encouraging SME Competitiveness in Serbia.
EBRD Regional Director for the Western Balkans and Serbian Office Director Zsuzsanna Hargitai said access to well-structured financial and advisory support could encourage local firms to invest in strengthening their competitiveness.
“We are very pleased to be a reliable partner of the EBRD to encourage the development of small and medium enterprises in Serbia. This segment of the economy has huge potential, so our goal is to provide easier access to finance that will help them reach EU standards and thus expand half of the total loan amount to support investments in green technologies and energy efficiency, which is in line with Unicredit’s strategic commitment to creating sustainable value,” said Ana Milic, President of the Executive Board of Unicredit Leasing Serbia.
The Minister of Economy, Andjelka Atanaskovic, estimated that the new credit line will enable small and medium enterprises to have more money available for investing in modern equipment.
“In that way, they will improve business, improve competitiveness and create new jobs, and thus strengthen the Serbian economy and improve the living standards of citizens, which is especially important at a time when we are affected by the Covid 19 virus,” she said, eKapija reports.
