EIB signs agreements with banks on guarantees for loans to small and medium enterprises in Western Balkans

The European Investment Fund (EIF), part of the EIB Group, has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans, which will enable local banks and financial institutions to build a portfolio of SME loans for an aggregate amount well above EUR 750 million, the EIF announced.

The agreements were signed under the European Union’s Western Balkans Enterprise Development and Innovation Facility (WB EDIF) “Guarantee for SME Resilience”.

These financial resources are intended to increase access to finance among small businesses and improve their resilience to persistent economic challenges, while creating conditions for business expansion, employment and innovation. In Serbia, this facility is expected to facilitate EUR 250 million worth of concessional loans to some 4,650 small businesses, sustaining around 64,000 jobs.