EBRD, EU boost competitiveness of Serbian firms
Small and medium-sized enterprises in Serbia will be able to boost their competitiveness thanks to a new program of the European Bank for Reconstruction and Development (EBRD) combining targeted and grant-supported investments.
The EBRD SME Competitiveness Program is providing a EUR 40 million credit line which two local partner banks, UniCredit and Banca Intesa, will offer to local SMEs, the EBRD said in a statement.
In addition, borrowers will be able to benefit from European Union grant incentives worth 15% of the total investment. On successful completion of the investment project, SMEs will be eligible for a cash-back grant of 15%, which will significantly reduce the costs of their investments.
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