EBRD and EU support Serbian small businesses with Banca Intesa Belgrade

European Union EBRD news

€16.5 million financings to help improve SME competitiveness and support women entrepreneurs

  • €15 million EBRD financing for investments to upgrade SMEs to EU standards
  • €1.5 million for women entrepreneurs
  • EU incentive investments to accompany loans

 mall and medium-sized enterprises in Serbia will benefit from additional access to finance, thanks to a €16.5 million financing package that the EBRD is extending to Banca Intesa Belgrade (BIB), a long-standing partner of the Bank.

€15 million will be extended for on-lending to SMEs for investments that will implement EU standards and improve the competitiveness of local companies on domestic and international markets. In addition to loans, SMEs will also benefit from investment incentives from the European Union equalling 15 per cent of the loan amount, as well as from advice and know-how to introduce EU standards.

A further €1.5 million will be allocated exclusively for the support of women entrepreneurs. This financing is an extension to a previous €10 million credit line which aims to reach a greater number of Serbian businesswomen.

“It is our great pleasure to sign these two agreements with EBRD and continue our long-standing cooperation to support Serbia’s economic development by securing affordable sources of finance. Small and medium-sized enterprises and female entrepreneurship have great potential to drive sustainable economic growth and to increase employment in our country, which is why Banca Intesa puts a special emphasis precisely on these segments of the economy”, said Draginja Đurić, President of the Executive Board of Banca Intesa.

Zsuzsanna Hargitai, EBRD Regional Director for the Western Balkans, added: “We are pleased to continue our fruitful partnership with Banca Intesa and to provide further financial support to Serbian SMEs and entrepreneurs. This support comes as a comprehensive package of finance, incentives and advice to maximise the positive impact on Serbian small business and strengthen their growth potential.”