This program was presented at the Business Forum WB EDIF 2018, held this Tuesday, June 26, 2018, at the Chamber of Commerce of Serbia (CCIS) in Belgrade. As the president of the CCIS, Marko Cadez, said on this occasion, the gap between the supply and the demand when it comes to credits is big, and the standard bank offer in the region is inadequate for small and medium enterprises, as it is “accompanied with high interest rates, expensive and complicated procedures, collaterals and long-term credit expenses”.
– The EIB estimates that Serbia alone lacks a billion euros for the financing of the SME sector, primarily for medium- and long-term credits – Cadez said and announced that Serbia would also get a new legal framework in the second half of 2018, regulating the investments for investors when it comes to investing in innovative companies and the connecting of innovative companies with big systems.
It was said at this event that, together with the help of EUR 275 million – EUR 150 million from European funds and EUR 125 million from international financial institutions – EDIF had provided a total of EUR 650 million in five years, enabling investments in nearly 5,000 SMEs in the Western Balkans
According to the data of the Ministry of Economy, 406 SMEs have been financed through this program so far, and the total financing amounts to close to EUR 62 million.
EDIF is primarily financed from EU funds, that is, IPA funds meant for the Western Balkans. These funds are provided through financial instruments and programs of EDIF, run by the EIF, the EBRD, the EIB, the World Bank, OECD and bilateral donors.J.S.