June 27 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) and the EU are providing a package of loans, grants and technical assistance to help small firms in Bosnia improve their production capacities and processes, the bank said.
The EBRD is providing 20 million euro ($22.7 million) to four partner commercial banks (UniCredit Bank Banja Luka, UniCredit Bank Mostar, Sparkasse Bank and Intesa Sanpaolo Banka), for on-lending to local small and medium-sized enterprizes (SMEs), the bank said in a press release on Wednesday.
Participating companies will benefit from incentive grants of 15% of the investment costs, as well as from technical assistance for project preparations, both funded by the European Union.
“We are confident that this new programme will improve small businesses’ access to much-needed finance. The smart combination of loans, incentive grants and technical assistance will help them improve their performance and succeed in even more challenging markets," Ian Brown, EBRD head of Bosnia and Herzegovina, said.
The new programme is supported by the EU under the regional investment platform, which aims to enhance access to finance for SMEs with innovative and high-growth potential in the Western Balkans, said Nicolas Bizel, head of operations section for justice and home affairs and public administration reform of the EU delegation to Bosnia.
($ = 0.879481 euro)