The European Bank for Reconstruction and Development (EBRD) has provided five million euros loan to support the competitiveness of small and medium-sized enterprises (SMEs) in Serbia.
The credit line is being implemented through Erste Bank, and the financing will help local small and medium-sized enterprises to reach the best industry standards and implement the EU directive, the statement said.
The aim of this support is to encourage SMEs to invest in meeting EU standards in three key areas: environmental protection, health and safety and product quality.
SMEs will also have access to advisory services tailored to their needs and expertise to introduce and implement standards and directives to be more competitive in EU markets.
Grants of up to 15 percent of the total loan amount upon successful completion of the project will also be available to them. The credit line is part of a broader EBRD-EU initiative, which encourages small and medium-sized enterprises across the Western Balkans to invest in projects that improve their competitiveness in the local and foreign markets.
The program is implemented in cooperation with the Ministry of Economy of Serbia.
The EU, in agreement with the Ministry of Economy, approved an additional 10 million euros under the Instrument for Pre-Accession Assistance (IPA) for the EBRD Program for the Competitiveness of Small and Medium-Sized Enterprises in our country, RTVNP reports.
