March 5 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it has channeled 107 million euro ($116 million) worth of loans to Serbian small and medium-size enterprises (SMEs) under the SME Competitiveness Programme since 2019.
The programme offers SMEs access to EBRD loans and European Union grants, through local commercial banks, for investing in business improvements to reach EU standards and increase competitiveness in the areas of energy efficiency and environmental protection, health and safety, and product safety and quality, the EBRD said in a statement on Monday.
An additional 9.5 million euro has been disbursed under the programme in incentive grants from the EU, according to the statement.
Some 90% of the companies financed through the programme are located outside the capital Belgrade, where access to financing is often more difficult, the EBRD noted.
($ = 0.925 euro)