The European Bank for Reconstruction and Development (EBRD), in collaboration with the European Union (EU), launched a new credit line.
This credit line encourages green investments among Serbia’s small and medium-sized enterprises (SMEs).
The SME Go Green programme is part of a larger initiative to promote sustainable business practices throughout the Western Balkans.
The funding authority has designated an initial allocation of €120 million for specific SME financing.
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Regional Programme with EU-Backed Funding
The European Union funds the SME Go Green initiative through the IPA under the Western Balkans Investment Framework (WBIF).
The EU has committed €24.94 million to assist the EBRD’s credit lines, including €19.45 million for investment incentives and €4.9 million for technical support.
This total program value will grow to €400 million over the coming years as additional funding becomes accessible.
Focus on Green Economy Investments
This initiative exclusively finances projects focused on the green economy, highlighting energy efficiency, resource management, and renewable energy.
The goal is to lower greenhouse gas emissions in Serbia while boosting competitiveness by helping SMEs comply with EU and international environmental standards.
Through SME Go Green, Serbian businesses, especially in the agribusiness sector, can secure financing for sustainable projects.
These projects aim to reduce environmental impacts and enhance resilience to climate change.
A key feature of SME Go Green is its targeted financial support for women-led SMEs, in line with initiatives to empower female entrepreneurs in Serbia.
Businesses completing their green investment initiatives will have access to cashback grants, receiving a 10% grant for standard green projects.
They will also receive a 15% renewable energy and agribusiness venture grant.
Also read: EBRD and EU Launch Go Green Initiative for SMEs in the Western Balkans
SME Go Green expands upon the successful Serbia SME Competitiveness Support Programme, which provided €50 million in EBRD funding and €9.54 million in EU grants.
The launch featured Matteo Colangeli from EBRD and Nicola Bertolini from the EU Delegation to Serbia.
In addition, Katarina Obradović Jovanović, Serbia’s Assistant Minister of Economy for SMEs and Entrepreneurship, attended the event.
NLB Komercijalna banka also signed a €5 million loan agreement as part of the new initiative.
SME Go Green supports Serbia’s transition to a green economy through private sector growth, sustainable infrastructure, and renewable energy.