Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
Serbia : € 200,000,000
Credit lines : € 200,000,000
Signature date(s)
18/06/2021 : € 200,000,000

Summary sheet

Release date
3 September 2020
Status
Reference
Signed | 18/06/2021
20200562
Project name
Promoter - financial intermediary
COVID-19 SERBIAN GOVERNMENT SUPPORT SMES&MIDCAPS
FOND ZA RAZVOJ REPUBLIKE SRBIJE,SERBIAN EXPORT CREDIT AND INSURANCE AGENCY
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 200 million
not applicable
Location
Sector(s)
Description
Objectives

The loan would be a part of the Serbian Governmental support programme for small and medium-sized enterprises (SMEs) and mid-caps impacted by the COVID-19 crisis. The loan would be dedicated to investments as well as working capital support to private entities.

This facility is part of the EIB's economic response to the COVID-19 pandemic and contributes to the EUR 1.7 billion EIB financial support package in the Western Balkans region. The loan aims at mobilising funding resources to mitigate the impact of the COVID-19 crisis in Serbia by financing small/medium projects carried out by small and medium-sized enterprises.

Additionality and Impact

The pandemic has exacerbated the known difficulties that the SMEs and Midcaps experience in accessing cost-effective, long-term finance. These difficulties arise from the small scale of activities and uncertainties in the markets leading to lower rates of return and higher risk of failure. The EIB loan will help the SMEs/Midcaps to alleviate the immediate negative effects of the pandemic by offering working capital finance, strengthen competitiveness and build-up of future resilience through financing small-scale investments in several sectors. The availability of EIB longer term financing with customized terms will contribute to the Serbian Government program of financial support to those small entities, while also having a strong impact on employment retention. This loan is part of the EIB response to the COVID-19 pandemic in the Western Balkans and included in the Team Europe initiative launched by the Commission.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Under ELM Guarantee

This operation is covered by the ELM Guarantee.

Related projects

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications