Access to finance
Funding programs of the EU and other international financial and development institutions
Besides investment incentives and state aid programs, companies in Serbia have access to different financing programs supported by the EU and other international financing and development organizations.
Western Balkans Investment Framework
Is the overall EU program for the Western Balkans, which includes a platform for the development of the private sector and innovation (WB EDIF), gathers bilateral donors and international financial institutions to provide support to the development and accession process of the region as well of the individual countries. Besides WB EDIF, support to the private sector is realized through the following instruments:
European Investment Bank EIB
Has been active in Serbia since 1977 and provides project loans to the public and private sector, as well as intermediated loans and microfinance through the network of financial intermediaries in the country.
https://www.eib.org/intermediarieslist/search/result?country=RS
European Bank for Reconstruction and Development EBRD
Enhancing private sector competitiveness, productivity, and access to finance in Serbia is also subsidized by the European Bank for Reconstruction and Development EBRD and their new country strategy, which will include further implementation of the programme „Advice for small business“.
https://www.ebrd.com/work-with-us/advice-for-small-businesses/serbia.html
Developing of the Startup Ecosystem through the Star Venture programme.
https://www.ebrd.com/starventure/overview
Also, intermediate financing of SME’s through dedicated credit lines to private financial intermediaries. EBRD offers direct funding through loans, equity investments, and guarantees.
https://www.ebrd.com/work-with-us/project-finance.html
EU PROGRAMMES
For investments in research, development, innovation, and digitalization, SMEs in Serbia are entitled to participate in EU programmes such as HORIZON EUROPE , DIGITAL EUROPE PROGRAMME, and SINGLE MARKET PROGRAMME .
Horizon Europe – European Commission (europa.eu)
https://digital-strategy.ec.europa.eu/en/activities/digital-programme
Innovation financing
Financing of innovation and boosting of cooperation between science and economy is strongly supported by grants of the Innovation Fund https://www.inovacionifond.rs/en/ and the European Union since 2011, through different programms of financing for early stage innovation development, market entry of new products, technologies, and services, commercialization of innovations and for the establishment of long-term cooperation between science and economy.
UNDP Challenge Call for Proposals for innovative solutions for the green transition of the Serbian economy
As the Serbian economy is inevitably going through a green transition, financial support from international organizations is available for these purposes as well, primarily through the program UNDP Challenge Call for Proposals for innovative solutions for the green transition of the Serbian economy, which will financially and technically support the implementation of innovative solutions for all five areas of the Green Agenda for the Western Balkans: decarbonization – reducing dependence on fossil fuels and switching to renewable energy sources; circular economy – conservation and better use of natural resources; environmental pollution reduction with a particular focus on air; protection and preservation of nature and biodiversity, and development of rural and sustainable food supply systems.
https://www.undp.org/serbia/news/challenge-innovative-solutions-green-transition
