ADVERTISEMENT

EBRD and EU to increase finance for SMEs in Western Balkans

World

Photo by Piotr Swat / Shutterstock.com

The European Bank for Reconstruction and Development (EBRD) and the European Union are increasing their support for small- and medium-sized enterprises (SMEs) in the Western Balkans with the provision of additional financing, following the outbreak of the coronavirus pandemic, the EBRD says. 

Photo by Piotr Swat/Shutterstock.com

The London-based bank said it will provide up to EUR 70 million in new credit lines to partner financial institutions for on-lending to local businesses in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia.

It added that the EU is complementing these funds with EUR 15 mln to identify and verify the best available equipment and technologies to ensure that SMEs increase their competitiveness and support the shift towards a green economy.

The countries of the Western Balkans responded to the outbreak of the coronavirus pandemic with strict public health measures which have had a severe economic impact. The countries are also suffering from a global economic downturn and reduced demand for their products, the EBRD says.

ADVERTISEMENT

33,850 sqm of new office space delivered to Budapest market in Q4 Office Market

33,850 sqm of new office space delivered to Budapest market in Q4

MNB study envisages HUF 2.25 tln of investments into green energy Green Energy

MNB study envisages HUF 2.25 tln of investments into green energy

4% minimum wage raise agreed Government

4% minimum wage raise agreed

Children's book publisher to challenge gov't resolution Art

Children's book publisher to challenge gov't resolution

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.