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News / EBRD and EU support SME competitiveness in Serbia
The European Bank for Reconstruction and Development (EBRD) provided a €20 million loan to UniCredit Leasing Serbia to support local small and medium-sized enterprises (SMEs) in investing to boost their competitiveness. More than half of the total loan amount will finance investments in green technology and energy efficiency.
The loan will give SMEs in Serbia access to finance, enabling them to go beyond their day-to-day operations and invest in upgrades to reach EU standards. SMEs can use the funds to upgrade technology, processes or services, particularly those related to product quality, health and safety and EU environmental requirements.
SMEs can also obtain technical assistance, including EBRD advisory support. Once they have completed their investment, they will be eligible for a cashback grant of 15 per cent of the total loan amount, both of which will be funded by the European Union.
These investments will be channelled through the Western Balkans SME Competitiveness Support Programme, to which the EBRD provides loans and the European Union contributes incentive payments and technical assistance. The goal is to help SMEs modernise their activities and take advantage of trade opportunities in the Western Balkans region and the wider European market.
Photo credits: EBRD
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