Launch of the EU-funded EBRD SME Competitiveness Programme in Serbia
Small and medium-sized enterprises (SMEs) in Serbia have more opportunities to increase their competitiveness due to a new EU and EBRD programme combining targeted and grant-supported investments.
The EBRD SME Competitiveness Programme, launched on 14 October 2019 in Belgrade, aims at boosting SME competitiveness and trade capacity through compliance with environmental, occupational health and safety, product quality and safety EU standards.
The Programme is funded by the European Union through the Western Balkans Enterprise Development and Innovation Facility (WB EDIF) and is implemented by the European Bank for Reconstruction and Development (EBRD).
It provides 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 EU grant incentives worth 15% of the total investment. On successful completion of the investment project, SMEs will be eligible for a cash-back grant of 15%, which will significantly reduce the costs of their investments.
Find more information about the initiative here.
Photo credits @ EBRD.