The European Bank for Reconstruction and Development (EBRD) is going to provide up to EUR 20 million for on-lending to small and medium-sized enterprises in the western Balkans that are run by women. The Women in Business program is a combination of financial assets, technical support, risk reduction strategy and advisory services for companies. The provision of consulting services and technical support is financed by the governments of Luxembourg and Sweden.
The EBRD has launched the Women in Business program for the western Balkan lending EUR 2 million to UniCredit Banja Luka.
Women in Business is a comprehensive program designed to improve women's entrepreneurship through assistance to small and medium-sized enterprises (SME) ran by women, the EBRD said in a release submitted to Tanjug news agency.
The loan the EBRD granted to UniCredit Banja Luka is the first ever extended under this program and to this bank. Enterprises run by women often have difficulty getting a loan and the aim of the program is to overcome such obstacles, the release reads.
- Although it is clear to us that women play an important role in entrepreneurship, we believe that strengthening their role is significant for the improvement of economic potential of the region. Our program is based on previous successful models, such as program implemented in Turkey and three-year advisory programs for women entrepreneurs in Bosnia-Herzegovina, Croatia and Serbia - EBRD Country Manager for Bosnia-Herzegovina Ian Brown said at the presentation of this program in Banja Luka.