EBRD to boost competitiveness of small businesses in N. Macedonia

World

New financing by the European Bank for Reconstruction and Development (EBRD) will contribute to boosting the competitiveness of local small and medium-sized enterprises (SMEs) in North Macedonia.

The EBRD is providing a loan of up to EUR 2.5 million to Komercijalna Banka AD Skopje for on-lending to local businesses for investments in production facilities and compliance with EU Directives in the fields of environmental protection, workers' safety and product quality and safety, the European bank said in a statement.

In addition to loans, SMEs benefit from tailor-made technical assistance and know-how for project preparation and implementation, as well as grant incentives worth up to 15% of the total loan amount on successful project completion. The technical assistance and grants are funded by the European Union's Western Balkans Enterprise Development and Innovation Facility (WB EDIF). 

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