The development of a robust private sector is essential for regional socio-economic development and integration, and to improve the region’s competitiveness and job creation. That’s why the Economic and Investment Plan (EIP) for the Western Balkans focuses on supporting start-ups and micro-, small and medium-sized businesses, and directing significant investments towards innovation and green growth.
Increased EU financing is made available to the private sector through blending of grants and loans, and guarantees under the Western Balkans Guarantee Facility (EFSD+). This reinforces open, innovative, business-friendly eco-systems based on a triple helix model of innovation.
Since 2020, support to the private sector development has been consolidated under WBIF Private Sector Blending to encompass several prominent initiatives, notably the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), the European Fund for South East Europe (EFSE) the Green for Growth Fund (GGF) and the Regional Energy Efficiency Programme (REEP).
Up to €30 billion in investments, including up to €9 billion of EU grant funding, is available under the EU’s Economic and Investment Plan for the Western Balkans. Investment flagship 9 focuses on Investing in the Competitiveness of the Private Sector.
Economic convergence is an essential element in getting the Western Balkan countries closer to the EU. A new €6 billion Reform and Growth Facility for the Western Balkans has been proposed for the period 2024-2027. Single market integration and targeted financial support needs to be accompanied by comprehensive reforms for their economies to cope with the competitive pressure of the single market, and to build competitive and sustainable businesses to attract private investment.
Global Gateway is the EU’s contribution to narrowing the global investment gap worldwide in support of sustainable development. Over the next seven years, the EU and its member states will mobilise up to €300 billion in public and private investments in the digital, climate and energy, transport, health, education and research sectors. The Global Gateway will deliver sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities.
Blending uses public money (grants) to cover part of the costs of a development project to get it off the ground, with public and private investors financing the rest. Blending allows partners to get the most out of their grant resources and enhance their overall development impact. WBIF supports blending operations in both the public and private sector.
Guarantees share the risk associated with investing and lending, to encourage private investors and development banks to finance entrepreneurs or investments. In case something goes wrong, the EU will pay part of it. The Western Balkans Guarantee Facility, launched in 2020, is expected to mobilise investments of up to €20 billion in the next decade. It is financed through the European Fund for Sustainable Development Plus (EFSD+) and the External Action Guarantee.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Unlocking diversified finance and training for entrepreneurs
Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia
Start date: 2021
Status: Under implementation
Total EU grant: €30m
The Enterprise Expansion Fund (ENEF) is an equity fund that catalyses the expansion of local small and medium-sized enterprises (SMEs) and high-potential mid-caps in the Western Balkans. Focusing on providing equity, quasi-equity and debt financing, ENEF II provides the financial boost needed for small businesses to grow and expand. Launched in December 2021, supported by the European Commission, EBRD and other development finance institutions, up to €75 million is expected to be available. ENEF II goes beyond financing, by providing extensive pre- and post-investment support. Success is more than numbers, so support is given to identifying and addressing Environmental, Social and Governance (ESG) risks and opportunities for businesses.
The journey began in 2014 with the launch of the Enterprise Expansion Fund (ENEF) under the Western Balkans Enterprise Development and Innovation Facility (WB EDIF), backed by an initial capital of €48.5 million. Guided by the European Bank for Reconstruction and Development (EBRD), ENEF I successfully invested in 16 companies by July 2020.
Overview of all active WBIF programmes for private sector and contact details for financial intermediaries benefitting from EU support in each beneficiary economy.
Use the filters below to find the best option for you.
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
* This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the ICJ Opinion on the Kosovo declaration of independence.
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
Active Number of Partner Institutions: 17
Partner Institutions: Raiffeisen Bank, UniCredit Bank, Intesa Sanpaolo, ProCredit Bank, MF Banka, NLB Banka, Sparkasse Bank, Raiffeisen Leasing, Sparkasse Leasing BH, MCC EKI, MCF EKI, MI-BOSPO, Mikrofin, Sunrise, MF Banka, MI-BOSPO, Partner
More about available programmes: BOSANSKI
EU funds for MSMEs in the Western Balkans
total investment value
young people hired or trained
start-ups supported through seed investments
MSMEs supported
jobs created
MWh p.a. savings in energy
CO2 emissions reduced
