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Home/News/Serbia to coordinate EBRD loans, EU grants to improve access to financing of SMEs

Serbia to coordinate EBRD loans, EU grants to improve access to financing of SMEs

Serbia’s government is working on coordinating the lending of the European Bank for Reconstruction and Development (EBRD) to small and medium-sized enterprises (SMEs) with the grants extended to them by the European Union.

A model for combining the EBRD lending and EU grants under the Instrument for Pre-Accession Assistance (IPA) is needed to facilitate the access of SMEs to financing, Serbia’s European integration minister Jadranka Joksimovic said in a press release on Monday.

Serbia also needs to deepen its cooperation with the EBRD in the development of energy efficiency projects, Joksimovic said during a meeting with EBRD director for Serbia Dan Berg, according to the press release.

Serbia’s European integration ministry and the Development Agency of Serbia recently signed a memorandum of understanding (MoU) to coordinate the activities for financing of local development projects through a network of regional development agencies, Joksimovic said.

The reform of state-owned enterprises and public utilities tops the list of priorities set out in the new five-year strategy for Serbia which the EBRD has adopted, the bank said in March.

The EBRD is a leading institutional investor in Serbia. To date, the bank has invested 4.7 billion euro ($5.6 billion) across some 200 projects in the country.

Source; SeeNews