EIB, Erste Bank Serbia signed €30m loan to help SMEs hit by COVID-19

The European Investment Bank and Serbia's Erste Bank AD Novi Sad (EBS) have agreed on a €30 million loan to boost SMEs and mid-caps in Serbia hit by COVID-19.

The loan will allow EBS to on-lend to companies severely affected by the pandemic, helping them retain jobs, preserve liquidity and ensure business continuity. This is the first operation in Serbia as part of the EIB’s €400 million financial programme earmarked for the private sector in the Western Balkans to ensure a fast response to and recovery from the COVID-19 pandemic.

The loans will be available to companies operating across different sectors strongly hit by the pandemic, such as wholesale and retail trade, accommodation, transport, food and beverages, and services.