EBRD launches $417 million programme to help Western Balkans ‘go digital’
The European Bank for Reconstruction and Development on Thursday launched a programme worth 377 million euros ($417 million) to help small and medium-sized enterprises develop new technologies in the Western Balkans.
The programme, developed with the support of the European Union, will combine loans, grants and technical assistance for investments in digitalisation, automation and green technologies, officials said during a presentation in Bosnia and Herzegovina’s capital, Sarajevo.
The bank says the digital modernisation of the private sector can play a vital role in improving socio-economic conditions in the region and strengthening ties with the European Union.
“With today’s launch of the regional Go Digital in the Western Balkans initiative, the EU reaffirms its strong support for SMEs – the backbone of the region’s economies,” Adebayo Babajide, the deputy head of the EU Delegation to Bosnia, said.
The development bank will extend up to 350 million euros to partner financial institutions in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia to lend to small and medium companies.
The European Union will also provide 27.6 million euros in grant incentives and technical assistance for the programme, secured through the Western Balkans Investment Framework.
Source: Globalbankingandfinance
