(BRIEF) The European Bank for Reconstruction and Development (EBRD) has started a partnership with NLB Komercijalna Banka (NLBKBB) in Serbia, offering a €15 million loan to help local small and medium-sized enterprises (SMEs). The loan will offer sub-loans to eligible SMEs, enabling them to invest in new green technologies and appliances for sustainability and align with EU directives and foreign standards. Incentive grants, aided across countries through the Small Business Impact Fund, will provide additional assistance. In PYME. Al order to help SMEs modernize their production facilities and meet environmental, protection and quality standards, the investment aims at their competitiveness and facilitate Serbia’s green transition, which is very important for economic expansion and European integration. NLKBBB, as a systemic bank in Serbia will play a central role in the disbursement of these funds, thus ensuring SMEs’ access to finance.
(PRESS RELEASE) LONDON, March 16, 2024 – /EuropaWire/ – The European Bank for Reconstruction and Development (EBRD) is providing additional support for the financing of small and medium-sized enterprises (SMEs) in Serbia through cooperation with NLB Komercijalna Banka (NLBKBB). The Bank offers a loan of €15 million to NLBKBB for relending to local Serbian SMEs.
NLBKBB will use the proceeds from the EBRD loan to provide secondary loans to eligible SMEs to finance investments in new technologies and green appliances to develop their sustainability and make their businesses compliant with European Union (EU) directives and other applicable foreign standards.
SMEs will also benefit from grants of up to 15% of the loan amount supported through 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 the NLKBBB will help SMEs in a comprehensive and strategic way, helping them to overcome various obstacles to the modernisation of production services and compliance with EU directives and other applicable foreign criteria in the field of environmental protection, employee protection and product protection. quality and protection.
The investment will 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 jobs. Improving its financial capacity is imperative for Serbia’s integration into regional and global markets, as well as for its economic growth, especially in the context of the ongoing EU integration process.
NLBKBB is a systemic, universal bank with over one million active consumers and one of the largest ATM and branch systems networks in Serbia.
The EBRD is one of the largest institutional investors in Serbia and has invested more than €8. 9 billion in 348 projects, most of which have benefited the personal sector. The Bank’s objective in the country is to improve the competitiveness of the personnel sector, the transition to green energy and sustainable infrastructure.
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SOURCE: EBRD
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