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The European Bank for Reconstruction and Development achieved a historic record in Serbia in 2019 with EUR 516 million of new financial commitments, lifting the EBRD’s results to a new level, especially in the private sector and the green economy, the bank says.

In total, the EBRD signed more than 20 new projects and registered the highest investment volume in the country since Serbia joined the EBRD in 2001, it said in a statement.

To enhance the competitiveness of the private sector, the EBRD channeled EUR 226.2 mln in credit lines to commercial banks for on-lending to local small- and medium-sized enterprises (SMEs), while it channeled EUR 5 mln direct financing through WB EDIF and Enterprise Expansion Fund.

SMEs were also given access to credit lines blended with incentives funded by the European Union, while 140 SMEs received advisory support for building export capacity, digitalization, marketing, financial management or business skills development, the EBRD added.