EBRD, EU And NLB Bank Serbia Join Forces To Boost SME Digitalisation

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 16. Small and medium-sized enterprises (SMEs) in Serbia are to receive support in digitalising and automating their operations thanks to a new loan from the European Bank for Reconstruction and Development (EBRD) and grant incentives from the European Union (EU), Trend reports citing the EBRD's latest reports.

The EBRD's €10 million loan to NLB Komercijalna Banka AD Beograd will be on-lent to SMEs for investments in digital and green technologies. The package is being provided under the Go Digital in Western Balkans programme, which is supported by the EU and aims to drive innovation, competitiveness and sustainable growth in the private sector.

Serbian SMEs will also benefit from EU-funded grant incentives totalling 10 per cent of the loan amount. In addition, they will be eligible for technical assistance – also funded by the EU – to help them identify and structure their priority investments.

Matteo Patrone, EBRD Vice President for Banking, said: “Investments in green and digital technologies are no longer a matter of choice, they are a necessity for SMEs to help them thrive in an ever-changing business landscape. This loan will help SMEs in Serbia to harness the power of automation and digitalisation, making them more competitive in both local and international markets.”

SMEs will be able to apply for financing for a wide range of technologies and investments, from simple automated and robotic industrial equipment to complex digital decision-making tools and data collection and analysis tools that can also contribute to decarbonisation and resource efficiency.
The Go Digital in Western Balkans programme aims to boost the productivity and efficiency of SMEs. Helping these companies to leverage investments in information and communications technology is one way to do this, as it enables them to streamline operations, automate processes, drive sales, improve customer experience and increase market access – all of which will raise competitiveness.

Supported with EU funding, these investments will be in line with EU standards for creating sustainable economies, helping businesses implement measures that can make their operations greener and more competitive in EU markets.

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