The Western Balkans take on an increasingly central role in the broader strategy pursued by Cassa Depositi e Prestiti (CDP) to expand its work in supporting the sustainable development and growth of enterprises in emerging economies, thanks to the opening of the first CDP office outside the EU, in Belgrade, a Memorandum of Understanding signed in Tirana, and agreements with the local branches of UniCredit and Intesa Sanpaolo.

The first step marking a consolidation of CDP’s role in promoting economic cooperation in the region was the opening of a new office in Belgrade for the entire Western Balkans. The move was swiftly followed by the signing of two financing arrangements, under the programme Green Finance for Inclusion supported by the EU resources, worth a total of €50 million, including a €10 million agreement with Banca Intesa Beograd and a €40 million agreement with UniCredit Bank Serbia.

The funding – unlocked by CDP through the WBIF – will be targeted by the two leading Italian banks in the country at small and medium enterprises in Serbia, in the form of soft loans to further their growth. The funding provided by CDP is expected to generate a multiplier effect of at least double the amount of financing delivered, for a total of no less than €100 million.

The programme Green Finance for Inclusion is focused on empowering women- and youth-led MSMEs in the sectors of social entrepreneurship, sustainable agriculture, circular economy and eco-tourism. Eligible MSMEs can access loans with favourable conditions:

• lower interest rates,

• reduced collateral requirements,

• longer maturities.

The initiative will enable support to be channelled to at least 250 local enterprises, creating new jobs and furthering efforts to achieve no less than five of the Sustainable Development Goals (SDGs) set by the United Nations.

The mission to Tirana on 6 February instead led to the signing, together with SIMEST and Albania's National Economic Council, of a Memorandum of Understanding, which formally designates CDP as the Italian Financial Institution for International Cooperation & Development Finance in Albania. During the mission, CDP also negotiated a financing arrangement, also this under the umbrella of the programme Green Finance for Inclusion supported by EU resources, worth €10 million with Intesa Sanpaolo Bank Albania, which similarly falls under the Western Balkans Investment Framework. The funding will be targeted by the sole Italian bank operating in the country at small and medium enterprises in Albania, in the form of soft loans to promote their growth. The funding unlocked by CDP is expected to generate a multiplier effect of more than €20 million. The initiative will enable support to be channelled to at least 50 local enterprises, creating new jobs and furthering efforts to achieve no less than five of the Sustainable Development Goals (SDGs) set by the United Nations.

More about the active WBIF programmes for the MSMEs

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