Better access to finance for small and medium-sized enterprises (SMEs) in Serbia thanks to the European Bank for Reconstruction and Development (EBRD) credit line of 15 million euros to Intesa Belgrade for lending to private companies.
Companies will be able to apply for loans for investments in environmental protection, worker safety and product quality and safety in line with EU standards, thereby making the company more competitive. At least 60 percent of the total loan amount is earmarked for investments in green technology and energy efficiency.
In addition to loans, small and medium-sized enterprises will also be able to benefit from EU-funded grants of 15 per cent of the total investment provided by the Instrument for Pre-Accession Assistance (IPA) for Serbia. The agreement between the EBRD and Banca Intesa Belgrade, EBRD’s long-standing SME finance partner, was signed today in London during the Western Balkans Investment Summit organized by the EBRD.
“The credit line we have signed today is a continuation of our long-standing cooperation with the EBRD, which has so far enabled us to provide the economy and the citizens of Serbia with credit support totaling around 250 million euros. Thanks to this line, we will be able to make it easier for SMEs to access sources of finance and help them invest in improving production and increasing competitiveness, while providing an additional impetus to the sustainable economic growth of our country”, said Draginja Djuric, President of Banca Intesa’s Executive Board.
Zsuzsanna Hargitai, EBRD Director for the Western Balkans, added:
“We are very pleased to sign this agreement with our long-standing partner Banca Intesa Belgrade. We are united in the ambition to support the private sector in Serbia and to be driven by the progress the country’s economy is making”.
The credit line is part of the Western Balkans SMEs Competitiveness Program, which helps private companies reach EU standards. Combining financing with advisory services, the program enables SMEs to improve the quality of services and products, making them more competitive both for export to EU countries and domestically.
In addition to financing, companies can also apply for the EBRD Advisory Support Program, which is also funded by the European Union. The EBRD is the leading institutional investor in Serbia. To date, the bank has invested more than 5.7 billion euros in 260 projects in the country. The EBRD supports private sector development and the transition to a green economy, Kamatica writes.
