The Serbian Entrepreneurship Foundation (SEF) has signed a €10.13 million loan agreement with the German Development Bank (KfW) to support micro, small, and medium-sized enterprises (MSMEs) in Serbia.
The signing ceremony was attended by Emanuele Giaufret, EU Ambassador, and Anke Konrad, German Ambassador.
Giaufret highlighted the importance of MSMEs, stating, “Small and medium-sized enterprises are the backbone of any growing economy. They drive innovation, create jobs, and contribute to overall economic growth and stability. The resilience of these businesses is key to sustained progress, and we want Serbian enterprises to one day become EU enterprises, which is why we are working on building their capacity.”
Germany remains one of Serbia’s most significant economic partners and among the largest investors in the Serbian economy, providing strong support to MSMEs.
German Ambassador Anke Konrad added, “The EU and Germany are working with Serbia to strengthen micro, small, and medium-sized enterprises. Our grant funding for SEF facilitates access to finance for MSMEs while also encouraging banks to offer financial and non-financial services to this sector. Our goal is to support the growth of local Serbian entrepreneurs and increase employment opportunities.”
Konrad noted that SEF has so far supported 2,800 MSMEs and contributed to creating or preserving nearly 10,000 jobs.
The program is funded by the EU, with loans available to the MSME sector through commercial banks. SEF will provide a guarantee mechanism to facilitate the process.
The initiative aims to support manufacturing businesses, enterprises in rural areas, and startups by offering adequate guarantees to partner banks that provide loans to these targeted groups.