Businesses in the Western Balkans will be able to benefit from a €85 million financial package to cope with the impact of coronavirus pandemic.
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD) will support small and medium-sized enterprises (SMEs) in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia.
Local businesses will be able to apply for loans at EU partner banks in their country.
The financial package comprises €15 million in EU grants, and up to €70 million in EBRD loans.
The support is part of the EU Economic Reactivation Package of €455 million in non-repayable grants and 1.7 billion in loans with preferential conditions. It was launched to support businesses in the Western Balkans in coping with the pandemic effects.
A previous €15 million in EU grants was used in six lending schemes totalling €45 in Bosnia and Serbia.
This second tranche will be available in all Western Balkans countries.