EUR 20 million in guarantee proceeds for banks for crediting SMEs in Serbia – EU funds to be available from mid-2018
Negre explained that these are proceeds from the pre-accession EU funds for support to SMEs and added that they would be made available to all banks in Serbia in mid-2018
The EIB, she said, will announce those guarantees in mid-March.
– This is an opportunity for those banks which have not cooperated directly with our fund to show interest in one of these guarantees. We know that there is currently enough liquidity in the market, but there are no mechanism enabling banks to take a bigger risk, to free their capital and start servicing small and medium enterprises, which have not been able to receive the funds so far, as their risk profiles have not suited the internal rules – Negre explained.
As she said, this guarantee scheme has proven to be very useful.
– The banks are liquid, but they need a mechanism that would enable them to take a bigger risk and reduce collateral requirements, as this is the biggest problem for business entities, that is, the SMEs which apply for the funds – Negre said and added that the agreement with the European Commission had already been signed and that the implementation was to follow in mid-2018.
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