June 30 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is lending 5 million euro ($5.2 million) to Bosnia's ProCredit Bank to help small and medium-sized enterprises (SMEs) invest in digitalisation and increase their competitiveness.
The funds will be on-lent to SMEs for investments in hardware and software in the area of digital communications, information and IT security, digital company management and digital production processes and services, the EBRD said in a press release on Wednesday.
The loan is expected to boost the digital transformation of SMEs, making them more competitive in EU markets and compliant with the standards required by EU directives, the EBRD said.
SMEs will also benefit from EU grants worth up to 15% of the total loan amount.
The funding is provided under the Go Digital Pilot in Bosnia and Herzegovina programme.
($ = 0.9557 euro)