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The European Bank for Reconstruction and Development (EBRD) is further supporting access to finance for small and medium-sized enterprises (SMEs) in Serbia, by commencing cooperation with NLB Komercijalna Banka (NLBKBB). The Bank is extending a €15 million loan to NLBKBB for on-lending to local Serbian SMEs.
NLBKBB will use the proceeds of the EBRD’s loan to provide sub-loans to eligible SMEs to finance investments in new green technologies and equipment to increase their sustainability and bring their businesses in line with European Union (EU) directives and other relevant international standards.
The SMEs will also benefit from grant incentives worth up to 15 per cent of the loan amount supported by Luxembourg, Norway and the United States of America through the Small Business Impact Fund (active donors: Ireland, Italy, Japan, Korea, Luxembourg, Norway, Sweden, Switzerland, Taipei China and the United States).
The EBRD’s cooperation with NLBKBB will support SMEs comprehensively and strategically, helping them to overcome various barriers to upgrading production facilities and complying with EU directives and other relevant international standards in the field of environmental protection, worker safety and product quality and safety.
The investment will therefore help to increase the competitiveness of Serbian SMEs and contribute to the country’s green transition.
SMEs are the backbone of the Serbian economy, providing two-thirds of the country’s employment. Improving their access to finance is vital for Serbia’s integration in regional and global markets and its economic growth, particularly in the context of the ongoing EU integration process.
NLBKBB is a systemic, universal bank that has more than a million active clients and one of the largest automated teller machine (ATM) networks and branch systems in Serbia.
The EBRD is a leading institutional investor in Serbia and has now invested more than €8.9 billion through 348 projects, of which the majority supported the private sector. The Bank’s focus in the country is on supporting private-sector competitiveness, green energy transition and sustainable infrastructure. |
