A proposed €127.5 million financing package between the European Bank for Reconstruction and Development (EBRD) and Banca Intesa Serbia would expand access to targeted funding for small and medium-sized enterprises, including financing for working capital, investment, renewable energy and energy efficiency.
The programme could provide up to €100 million for working-capital and investment financing for Serbian companies. As much as 30% of that amount could be directed toward renewable-energy and energy-efficiency projects. The proposed package also includes dedicated facilities for youth-led companies, women-owned businesses and green investments, creating separate financing channels according to the characteristics and purpose of individual projects.
Targeted lending addresses SME financing needs
The structure of the programme reflects a financing environment in which the availability of bank liquidity is not necessarily the main constraint for Serbian SMEs. Serbian banks are liquid and profitable, while companies seeking longer-term investment financing face considerations including risk, collateral requirements and financing costs.
International financial institutions can provide additional structures through which commercial banks can address these requirements. Dedicated funding, risk-sharing mechanisms and defined eligibility criteria can support lending to projects that may otherwise compete with conventional short-term borrowing on less favourable terms.
Green projects gain a dedicated financing channel
Renewable energy and energy efficiency represent a significant component of the proposed financing framework. A Serbian manufacturer could use specialised financing to replace inefficient machinery, install rooftop photovoltaic systems, electrify part of its production process or reduce energy consumption. Such investments can affect operating costs while also meeting the criteria for green financing. The structure links environmental improvements directly with corporate investment decisions, allowing energy-related projects to be considered within dedicated financing programmes.
EU-oriented companies face additional investment requirements
The financing model is particularly relevant for SMEs operating in export markets, including companies selling into the European Union. As requirements related to carbon, energy efficiency and supply-chain reporting become more demanding, investments that improve energy performance and provide documented environmental data become increasingly relevant to companies engaged in EU-linked trade.
The proposed EBRD-Banca Intesa structure therefore separates financing according to several criteria, including company ownership, environmental performance, investment purpose and development impact. For SMEs seeking access to the available funding, documented investment plans, measurable energy savings and financial performance form part of the information relevant to this more targeted financing environment. Companies relying predominantly on unsecured working-capital borrowing face a different financing structure from businesses able to present defined investment projects and qualify for specialised facilities.
