The European Bank for Reconstruction and Development (EBRD) presented a new Single Program in Sarajevo to SMEs “Go Digital In The Western Balkans” with the support of the European Union and aims to encourage innovations, competitiveness and sustainable growth in the private sector of the Western Balkans.
The value of the program is 377 million euros, and will be focused on investing in digitization and green technology.
Director for Financial Institutions for the Western Balkans and Eastern EBRD Aleksandra Vukosavljević said the program will be available in all Western Balkan countries and that it is released to the successful pilot that had in BiH in cooperation with the EU.
– The program will enable funding in the amount of EUR 350 million with small and medium enterprises (SMEs) throughout the region to be placed through partner financial institutions. We already have 15 partner financial institutions in the region through which this program is already available to small and medium enterprises, but we expect to join more partner financial institutions – said Vukosavljević.
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She added that in addition to funding, and with the support of the European Union, the program also enables the technical assistance of SMEs that will enable them to choose the most adorable possible investments. According to her, investments are mostly expected in the domain of digitization, automation, but also green technologies.
– After successful implementation, the program will enable grants in the amount of ten percent to small and medium enterprises. We believe that the investment in digital technologies is very important, especially in the Western Balkans. Although small and medium enterprises use some basic digital technologies such as Internet and Internet sales, when it comes to a little more advanced digital technology, we see a big difference in terms of developed markets. We believe that we will enable these programs that SMEs in the region be more competitive in the markets in which it exports – Vukosavljević pointed out.
According to the Deputy Chief of the EU Delegation, Adebayo Babajid, this initiative should help SMEs through the region to adapt to a world that is constantly changing and taking advantage of new opportunities.
– We know from the experience that the positive impact of the project “Go Digital In The Western Balkans”. He is based on a pilot project “Go Digital in BiH”. The result is 11.5m euros investing the European Union and which have helped more than 200 small and medium enterprises in BiH to modernize their business – said Babajid.
He emphasized that SME support in the Western Balkans means investing in the economic foundation of the region.
As part of the program, the EBRD will place 350 million euros through partner financial institutions in the Western Balkans region for further lending to local enterprises. In addition to the loan, companies will also be able to achieve grants in the amount of 10 percent of the loan amount, funded by the EU. In total, the EU provides € 27.6 million valuable grants and technical assistance for the program, secured through the Investment Framework for the Western Balkans (WBIF).
