Sitemap

EBRD and EU boost competitiveness of Serbian firms

More...

Western Balkans Regular Economic Report: Fall 2020

A semi-annual report on recent economic developments...

El Al To Launch Belgrade Flights

El Al Israel Airlines will inaugurate flights...

Coca-Cola’s First Paper Bottle Prototye

Coca-Cola is working to create a bottle...

News

Western Balkans Regular Economic Report: Fall 2020

A semi-annual report on recent economic developments and economic policies in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo,...

El Al To Launch Belgrade Flights

El Al Israel Airlines will inaugurate flights between Tel Aviv and Belgrade starting 1. november. The carrier will operate...

EIB And Erste Bank Serbia Sign €30 Million Loan To Help Fast Recovery Of Serbian SMEs And Mid-Caps

- The EIB will invest €30 million to accelerate the recovery of Serbian companies operating in sectors most affected by...

Clean Air Challenge

UNDP Serbia, in cooperation with UNICEF and WHO, has announced the Clean air challenge to call proposals for innovative...

Rule Of Law Crucial For The Western Balkans’ Post-pandemic Economy

Belgrade Security Forum continued with Dr. David Landsman, Chairman of British Serbian Chamber of Commerce and former British diplomat...

EBRD issues loans and grant financing to help Serbian businesses compete in European single market

• EBRD and EU support Serbian businesses to achieve EU standards
• €40 million in EBRD loans via UniCredit and Banca Intesa combined with grants from the EU
• Investments to include the raising of health and safety standards and product quality

Small and medium-sized enterprises (SMEs) in Serbia will be able to boost their competitiveness thanks to a new EBRD programme combining targeted and grant-supported investments.

The EBRD SME Competitiveness Programme is providing a €40 million credit line that two local partner banks, UniCredit and Banca Intesa, will offer to local SMEs. In addition, borrowers will be able to benefit from European Union grant incentives worth 15 per cent of the total investment.

The prospect of EU membership and a free trade agreement presents many opportunities for Serbian SMEs but also involves significant adjustments to comply with new regulatory standards, which can create an additional burden for enterprises.

The programme was developed to assist private small firms to achieve compliance with EU Directives, particularly in the fields of environmental protection, occupational health and safety and product quality and safety. This will equip Serbian firms with the tools they need to export to EU countries but also enable them to offer better quality services and products, making them more competitive in the local markets.

On successful completion of the investment project, SMEs will be eligible for a cashback grant of 15 per cent, which will significantly reduce the costs of their investments.
In addition, SMEs will have access to EBRD advisory support, which is funded by the EU.

Zsuzsanna Hargitai, EBRD Regional Director, Western Balkans, said: “One of the main challenges to joining the EU is to improve the competitiveness of the local economy so that it can compete with EU countries. This programme does exactly that; it helps Serbian firms to get closer in terms of quality and standards to their EU counterparts.”

Michael Voegele, Western Balkans Investment Framework’s Team Leader, European Commission, said: “The European Union is committed to assisting Serbia in providing incentives for the companies to start, grow and expand regionally and internationally. There are challenges that limit the competitiveness of private enterprises and we work in partnership to overcome these.

Predrag Milenović, Member of the Banca Intesa Executive Board and Head of the Corporate and SME Divison, said: “By taking part in the SME Competitiveness Programme, Banca Intesa is continuing its successful long-standing cooperation with the EBRD as part of which we have made available nearly €200 million in loan support to the Serbian economy and households so far. As part of this programme, we have offered favourable investment loans to SMEs, helping this strategically important part of the domestic economy to improve its operations and boost competitiveness“.

Željko Kišić, Head of Mid Market Department in UniCredit Bank Serbia said: “We are very pleased to be an EBRD reliable partner for boosting the development of small and medium enterprises in Serbia. This segment of the economy has a huge potential, thus our goal is to enable easier access for financing that will allow them to improve and expand their business.”

The EBRD is a leading institutional investor in Serbia. The Bank has invested more than €5 billion across 250 projects in the country to date. The EBRD is supporting private-sector development and the transition towards a green economy.

Advertising

Related Articles

EBRD Shareholders Elect France’s Odile Renaud-Basso As Next President

The Board of Governors of the European Bank for Reconstruction and Development (EBRD) has elected Odile Renaud-Basso of France as the Bank’s next President. Currently...

Joksimovic and Fabrizi: Progress Report and Economic Package in an Important Moment

Today at the government building, Ambassador Sem Fabrizi, Head of the Delegation of the European Union to Serbia handed over to Ms. Jadranka Joksimovic,...

SME

A Coach and An Inspiration

Italian small and medium-sized enterprises are seen as role models and hubs for sharing knowledge when it comes to the promotion of entrepreneurship among...

Miroslav Lajčák, EU Special Representative For The Belgrade-Priština Dialogue

Time To Bring The Process To An End

The Washington meeting covers previous dialogue agreements and topics currently under discussion in Brussels, already existing EU-financed infrastructure projects and the positions of the...

How We Explored Serbia

Against all odds, it turned out that the pandemic had one positive effect - we spent the summer getting to know Serbia, as the...

EU Awards One Million EUR In Grants For COVID Recovery In Tourism Sector

“#EUzaTebe – For Cultural Heritage and Tourism” project has awarded one million euros for 120 projects aimed at supporting the tourism sector affected by...

The EU Does Not Recognize Belarus Election Results

Members of the European Council held a video conference, at which they discussed the situation after the presidential elections in Belarus on 9 August. "As...

H.E. Sem Fabrizi, Ambassador and Head Of The Delegation Of The EU To Serbia

Constructive Dialogue Needed

The current polarization is not healthy, particularly in a delicate phase when the fight against COVID-19 requires unity. This is the reason why the...