EBRD Approves EUR 15 mln Loan to Support Serbian SMEs

World

The European Bank for Reconstruction and Development said it has approved a EUR 15 million loan to support small and medium-sized enterprises (SMEs) in Serbia.

The credit line will be extended to Erste Bank, which will lend the funds to local businesses hurt by the COVID-19 pandemic, the EBRD said in a statement.

The funds will enable SMEs to invest in better-performing green technologies and to improve their working standards and processes. SMEs will also benefit from grant incentives of up to 15% of the loan amount, it said.

Around 70% of program funding will be allocated to investments in energy-saving and green technologies, while the remainder will support investments in automation, increased productivity, product quality and safety, the EBRD also said.

The grants are funded by Luxembourg, Norway , and the United States of America via the Small Business Impact Fund, and other donors are expected to participate.

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