Serbia joined EU Entrepreneurship Program – more favorable loans of European banks for small and mid-sized enterprises

- Serbia joined the EU Entrepreneurship Program yesterday (November 27, 2008). This program will make it possible for small and mid-sized enterprises to obtain favorable loans from European banks – said Serbian Minister of Economy Mlađan Dinkić.

Following the signing of the Memorandum of understanding for participation in that program, he said in the Government of Serbia that, in addition to the funds of, primarily, European Investment Bank, Serbian enterprises would be able to get technical assistance for improvement of competitiveness and innovations.

The Minister said that the fact that small and mid-sized enterprises in Serbia employed about 1.3m citizens and that their share in Serbia’s total export amounted to 50% made that program even more significant.

The Vice President of the EU Commission for enterprises and industry, Gunter Verheugen, said that small and mid-sized enterprises from Serbia would have full access to financial instruments of EU for improvement of operations and development of innovation potentials.

According to his words, the program will also enable Access to European network of small and mid-sized enterprises where useful business contacts can be established.

European Union’s Entrepreneurship and Innovation Program (EIP) is a part of the competitiveness and innovation program dedicated to development of competitiveness of European enterprises in the period 2006-2013.

Ministarstvo privrede Republike Srbije

EIB

EU Entrepreneurship and Innovation Program

Mlađan Dinkić

Gunter Verheugen

EIP