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The Government of the Republic of Serbia

In the service of citizens

Favourable loans for 1,250 small, medium enterprises

Belgrade, 20 November 2018

Prime Minister Ana Brnabic attended today the signing of an agreement between the European Investment Fund, part of the EIB Group, and representatives of five banks from Serbia on assistance in financing small and medium-sized enterprises in our country.

The agreement on the implementation of the guarantee scheme for financial assistance to small and medium-sized enterprises in Serbia in the amount of €20 million with the European Investment Fund (EIF) was signed by representatives of Raiffeisen Bank, UniCredit Bank, ProCredit Bank, Banca Intesa and Komercijalna Banka.

Brnabic pointed out that the development of small and medium-sized enterprises is crucial for the sustainable growth of the Serbian economy, while expressing the gratitude to the EU, EIF, EIB and local banks to support the project.

She emphasised that this programme will enable entrepreneurs to further develop their business and strengthen the Serbian economy, adding that this is another element that is added to the whole set of measures, from investments in education and science, changes in key business laws, to taxation a relief, in order to transform the Serbian economy and enable innovations that stimulate the necessary growth.

This is an important step in using the great opportunities brought to us by the Fourth Industrial Revolution marked by digitisation, the Prime Minister assessed.

State Secretary of the Ministry of Economy Milun Trivunac expressed his gratitude to the EU for accepting the initiative of the Ministry of Economy and securing €20 million from the IPA funds for this important project.

Head of the European Union Delegation to Serbia Sam Fabrizi estimated that access to finances is often one of the barriers to companies in Serbia, especially small ones, and added that this project will enable them to become more competitive.