Sitemap

New ENEF II Fund to Propel Growth in Western Balkans

CorD Recommends

Ghana to Open Embassy in Belgrade

Ghana is set to open an embassy...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive...

Serbia Charts the Course to Smart Cities with Kragujevac Leading the Way

In a significant development for urban planning...

Serbia, Slovenia, and Hungary Merge Power Exchanges in Energy Pact

In a significant move to streamline and...

1938 Superman Comic Sold for Record $6 Million

A 1938 comic book featuring the first appearance of Superman was sold for a record $6 million to an...

White House Calls for Lunar Time Zone

The White House has requested that NASA create a new time zone for the Moon by the end of...

Serbian Red Cross Launches Pioneering Migration Platform

Responding to a significant increase in migrant numbers, the Serbian Red Cross has unveiled a cutting-edge digital platform, earning...

Ghana to Open Embassy in Belgrade

Ghana is set to open an embassy in Belgrade, as announced by Serbia's Foreign Minister Ivica Dačić following a...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive Maserati showroom in Belgrade, setting new luxury benchmarks in line with the...

The European Bank for Reconstruction and Development (EBRD) has announced the introduction of the Enterprise Expansion Fund II (ENEF II), aimed at fostering the growth of companies with high development potential in the Western Balkans. This significant initiative starts with €57 million in investments from notable entities including the EBRD, the European Union (EU), Cassa Depositi e Prestiti (CDP), and the German development bank KfW.

During its official unveiling in Belgrade, Banca Intesa stepped forward as the first private sector investor, committing up to €7 million to ENEF II. This contribution, matched by an additional €7 million from the European Union, elevates the fund’s total investment capability to €71 million. Banca Intesa’s investment reinforces its commitment to the sustainable development of the region’s small and medium-sized enterprises (SMEs).

ENEF II is designed to support 15 to 20 companies by offering a variety of financial instruments, including minority equity investments, recapitalizations, hybrid debt-equity solutions, and conventional loans, with investment amounts ranging from €500,000 to €8 million.

In addition to financial support, ENEF II provides comprehensive advisory services to assist businesses in developing robust and successful operational models. The fund is also dedicated to promoting sustainable development among its investees, encouraging them to adhere to best practices in environmental stewardship, social responsibility, and governance (ESG).

The launch event, organized by the Italian Embassy in Serbia, saw participation from key European ambassadors, including Emanuele Giaufret of the EU, Luca Gori of Italy, and Anke Konrad of Germany. They highlighted the initiative’s alignment with shared goals for enhancing private sector growth and further economic advancement in the Western Balkans. Over 70 companies from Serbia, the wider region, and Italy were in attendance, exploring funding opportunities and potential partnerships.

EU Ambassador Giaufret praised the timing of the initiative, which coincides with the EU’s preparations for a new growth and reform agenda for the Western Balkans focused on private sector development. With a substantial investment of €26 million from the EU, the project aims to bolster SMEs, making Serbia and its neighbors more competitive on European and global levels.

Matteo Colangeli, EBRD Director for the Western Balkans, expressed enthusiasm for Banca Intesa’s involvement, highlighting it as a valuable addition to their ongoing collaboration across the region. ENEF II continues the success of its predecessor fund, with a commitment to investing in local businesses and providing them with the necessary support for growth and sustainability.

Pročitajte još...

EU Passes Landmark Media Freedom Law

The European Council has adopted a groundbreaking law aimed at safeguarding media freedom, pluralism, and editorial independence within the European Union, the EU Delegation...

Scholz Champions Western Balkans’ Path to Membership

German Chancellor Olaf Scholz, in Slovenia, advocated for quickening the EU accession for the Western Balkans, underlining the importance of reform-driven progress over geopolitical...

The EBRD remains one of the largest institutional investors in the Western Balkans, emphasizing the importance of Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia, and Serbia as strategic areas. With more than €18 billion invested in these economies, the launch of ENEF II signifies a continued effort to drive economic development and sustainability in the region.

Related Articles

EU and EP Finalise €6 Billion Support for Western Balkans

The European Parliament and the Council of the European Union have finalised a deal to provide an additional six billion euros in aid and...

Comment

Balancing Progress and EU Alignment

Serbia’s digital transformation, which has been spearheaded by Ana Brnabić, has achieved remarkable progress, but still requires swift harmonisation with EU regulations to ensure...

EU Passes Landmark Media Freedom Law

The European Council has adopted a groundbreaking law aimed at safeguarding media freedom, pluralism, and editorial independence within the European Union, the EU Delegation...

Scholz Champions Western Balkans’ Path to Membership

German Chancellor Olaf Scholz, in Slovenia, advocated for quickening the EU accession for the Western Balkans, underlining the importance of reform-driven progress over geopolitical...

CEB Grants €1.3 Billion Loans to Boost Social Sectors in 11 Countries

The Council of Europe Development Bank (CEB) has sanctioned loans totaling €1.3 billion for 11 member countries, including Serbia and Bosnia and Herzegovina, announced...

Serbia Advances in Renewable Energy with Pupin Wind Park Financing

In a significant stride towards renewable energy adoption, Serbia has finalized the financial arrangements for the Pupin Wind Park, with contracts signed at the...

Bosnia and Herzegovina Kickstarts EU Membership Talks

Bosnia and Herzegovina has initiated accession negotiations with the European Union, a development hailed as a pivotal advancement for the Balkan country. This move,...

European Parliament Passes Groundbreaking AI Law

The European Parliament has adopted the Artificial Intelligence (AI) Act, aiming to safeguard fundamental rights, democracy, the rule of law, and ecological sustainability in...