Release date: 3 September 2020
Promoter – Financial Intermediary
FOND ZA RAZVOJ REPUBLIKE SRBIJE,SERBIAN EXPORT CREDIT AND INSURANCE AGENCYLocation
Description
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.
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.
Objectives
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.
Sector(s)
- Credit lines - Credit lines
Under ELM Guarantee
This operation is covered by the ELM Guarantee.
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 18/06/2021
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).