News in English     | 26.11.2020. 18:45 |

EBRD and EU support small businesses in Bosnia and Herzegovina

FENA Press release

SARAJEVO, November 26 (FENA) - Small and medium-sized enterprises (SMEs) in Bosnia and Herzegovina are set to benefit from new financing provided by the European Bank for Reconstruction and Development (EBRD) thanks to a EUR 1 million loan to Sparkasse Leasing BiH.

Sub-loans will be available for investments in vehicles and equipment in line with EU standards in areas such as environmental protection, workers' safety as well as product quality and safety. Small businesses will be able to use funds to lease trucks, semi-trailers, cold storage units, construction machines and hybrid vehicles, EBRD announces. 

At least half of the sub-loans will be dedicated to supporting the Green Economy Transition (GET).

The loan is part of the European Union (EU)-supported Competitiveness Support Programme for the Western Balkans to assist private, small firms in complying with EU standards. Combining financing with advisory services, the program equips SMEs with the tools needed to export to EU countries but also enables them to offer better quality services and products, making them more competitive in local markets too.

Manuela Naessl, EBRD Head of Bosnia and Herzegovina, said that this loan demonstrates the EBRD’s strong commitment to supporting local small businesses, which are crucial economic players in Bosnia and Herzegovina.

"Many of them have been hit hard by the coronavirus pandemic and it is crucial that they receive what they need to be able to drive the country’s recovery," said Naessl. 

Since it began its operations in Bosnia and Herzegovina in 1996, the EBRD has invested more than EUR 2.7 billion in 187 projects in the country. The Bank focuses on the expansion of the local private sector, promotion of regional and international integration and the sustainable use of resources.

(FENA) A. B.

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