In 2020 alone, the EBRD provided over 480 mln euros to the private sector in Serbia, with most of the funds going to SMEs, says EBRD Director for the Western Balkans Zsuzsanna Hargitai.
She said the example of Bel-Plast, an Uzice-based family-owned producer of foil and films that has received EBRD and EU assistance to improve its energy efficiency, showed how “access to well-structured financial and advisory support can encourage local firms to invest in boosting their competitiveness.”
“It pays off in the long run with higher sales with better quality products and higher production capacities, among other benefits.
Encouraged by many great companies and their success stories to which we contributed through the 40 mln euro programme to date, we are united with the EU in our ambition to continue providing support to the local companies in Serbia,” she said.
The head of the EU Delegation to Serbia Sem Fabrizi said the EU supported the Serbian economy by strengthening its private sector and SMEs, which he noted were essential for Serbia’s economic growth.
“Through different mechanisms, the EU offers direct support for business development and supports business incubators. Furthermore, by promoting the cooperation between science and economy, the EU encourages companies and science and research organisations to create innovative products with commercial potential,” Fabrizi said.
