Ministry of Economy and EAR announced open competition for financing of SME development – donations worth €2m

Ministry of Economy and European Agency for Reconstruction announced the open competition for financing of project for stimulation of SME development, which is realized with the financial support from European Union through the Fund for Development of Enterprises and Innovations. The plan is that over €2m be invested in that project. Maximal amount of the means for the project that deals with the development of entreprises is €100,000 and minimal amount is €25,000, whereas maximal amount for the project that deals with the development of innovations is €150,000 and minimal amount is €25,000. The applications can be submitted by non-profit organization and in that case the amount of the donation can cover up to 90% of the expenses of the project. As far as profit organizations are concerned, the donations cover 75% of the expenses.

Kristos Gofas, head of the operations of European Agency for Reconstruction in Serbia, pointed out that that project represented the part of wider programme for development of enterprises and entrepreneurship, which is financed by EU with total budget of €4.5m.