EBRD launches 71 mln euro fund for W. Balkan SMEs

The ENEF II has raised 57 million euro in commitments from its initial investors, which include the EBRD, the EU, Italy’s Cassa Depositi e Prestiti and Germany’s Kreditanstalt fuer Wiederaufbau, the EBRD said in a press release on Wednesday.

In addition, Italy's Banca Intesa will invest up to 7 million euro, marking the first private-sector contribution to the fund. The EU will match this investment, taking the fund’s resources to 71 million euro.

The ENEF II provides market-leading companies in the Western Balkans with a range of financing instruments, including equity, quasi-equity and tailor-made debt financing, and aims to build a portfolio comprising 15-20 companies, with individual investments ranging from 500,000 euro to 8 million euro.

The Western Balkans countries include Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia. The region remains a strategic area and focus for the EBRD, which has invested more than 18 billion euro in its economies.

(1 euro = $1.09)