A big boost for small businesses in Albania and Serbia
The European Union and the European Bank for Reconstruction and Development (EBRD) are working hand-in-hand to support small and medium-sized businesses through a number of dedicated programmes.
Albania goes digital
At the beginning of 2025, the EBRD will issue a €3 million loan issued under the Go Digital programme for on-lending to Albanian SMEs in support of automation, digitalisation and green technology investments. This is the first time that the EBRD has extended a loan under that programme in the Western Balkans.
Most of these funds will be used to support automation and digitalisation projects, demonstrating the EU’s focus on modernising the private sector. At the same time, green investments will also remain a priority in Albania, with at least 60 per cent of this funding going to projects with a green transition approach. This programme will also support businesses with significant technical assistance in pipeline development and implementation, as well as training. The total WBIF grant for this programme amounts to €27.8 million, with an estimated investment of €177 million overall.
Silvio Gonzato, Head of the EU Delegation in Albania, stated: “We are proud to provide funding through the EBRD and Union Bank in order to facilitate access to finance for SMEs in Albania. SMEs employ more than 80 per cent of the workforce in Albania, and such funding is vital to ensure their continued success.”
Planting the seeds for green growth in Serbia
This follows the November 2024 launch of a new credit line to local financial institutions in Serbia for on-lending to small businesses under the SME Go Green programme. In its initial phase, the EBRD will provide €120 million of targeted SME financing in the Western Balkans region, including Serbia. The EU is providing €25 million in grants through the WBIF covering investment incentives and technical assistance.
The funding will be fully dedicated to green economy investments, including energy and resource efficiency and renewable energy investments. Another key aspect of the programme is empowering women in business through dedicated funds to support women-led SMEs.
The event, dedicated to the EBRD and EU support for SMEs in Serbia was attended by Matteo Colangeli, EBRD Regional Director for the Western Balkans, Nicola Bertolini, Head of Cooperation, Delegation of the European Union to Serbia, Katarina Obradović Jovanović, Serbia’s Assistant Minister of Economy, Sector for Development of Small and Medium Enterprises and Entrepreneurship, Aleksandra Vukosavljević, EBRD Director, along with representatives of Financial Institutions, Western Balkans and Eastern Europe.
A full list of WBIF programmes for the private sector is available in Serbian and English language.
The dedicated private sector webpage on wbif.eu provides further information for SMEs.
