EBRD approves loan of EUR 15 million to companies in Serbia: What is the purpose of the funds?
The credit line worth EUR 15 million was approved by the EBRD to Erste Bank, in order to help SMEs to improve and encourage the development of their business after the covid-19 pandemic.
The European Bank for Reconstruction and Development (EBRD) and donors are intensifying support for the small businesses in Serbia through the provision of new financing to Erste Bank, which will then grant funds to local small and medium-sized enterprises (SMEs) affected by the covid-19 pandemic.
Erste Bank will grant these funds to small and medium-sized enterprises, enabling them to invest in more efficient green technologies and to improve their standards and work processes.
These investments aim to better align local SMEs with European Union’s and international standards, thus fostering their competitiveness both domestically and internationally.