EBRD supporting Serbian private healthcare sector – Loan of EUR 3 million to Bel Medic for increased accessibility of specialized services to local populace

The EBRD and the Enterprise Expansion Fund (ENEF) are providing a EUR 3 million loan to support the expansion of the leading Serbian private healthcare provider Bel Medic. This is the first joint investment by the EBRD and ENEF in the Serbian private healthcare sector aiming to further boost its development, the EBRD says in a press release.

The funds will be used to finance the purchase of equipment for Bel Medic’s newly built hospital wing in Belgrade and to support the future growth and development of the hospital. With this investment, Bel Medic will be able to increase its bed capacity and fully equip two new operation rooms. Serbian patients often face long waiting times for specialized and advanced healthcare services in public hospitals. The aim of this investment is to help alleviate this problem by providing wider access to specialized services, such as screenings.

Bel Medic has been the EBRD’s longest lasting advisory client since 2012. Through its Advice for Small Businesses and Women in Business programs, the EBRD has supported Bel Medic to improve its organization, management information system and accounting standards, leading to better quality of services, financial management and assurance in the company.

Zsuzsanna Hargitai, EBRD Regional Director, Western Balkans, said:

– This investment will support Bel Medic to develop an offer of new value-added services. We are pleased that we can support the development and modernization of Serbian hospitals for the benefit of the citizens.

Jasmina Knežević, founder and Chief Executive Officer of Bel Medic, added that it was a great honor to see Bel Medic recognized by the EBRD as a trusted partner with the ability to keep up with modern medical development and international standards.

– We have always offered our clients the best practice service and treatment. Continuing our successful oath, the EBRD’s support means a lot to us – Knežević said.

Bel Medic General Hospital is the first private hospital in Serbia, established in 1995 as a polyclinic and in 2004 was registered as a general hospital, offering a comprehensive set of medical care in several locations in Belgrade, with about 390 permanent employees and nearly 400 consultant doctors and experts in all medical specialties.

ENEF and MSP

The ENEF is a EUR 48.5 million fund supporting established small and medium-sized enterprises (SMEs) with high-growth potential in the Western Balkans. The EBRD is also an investor in the fund, together with the European Investment Fund (EIF), the European Union, the German Development Bank (DEG), the Development Bank of Austria and Italy.

SMEs benefiting from ENEF investments also receive substantial technical assistance to help them to prepare and implement the investments.

The ENEF is part of a larger SME platform, the Western Balkans Enterprise Development and Innovation Facility, established jointly by the EBRD, the European Investment Bank (EIB) and the European Union.

The EBRD is a leading institutional investor in Serbia. The Bank has invested more than EUR 5 billion across 250 projects in the country to date. The EBRD is supporting private-sector development and the transition towards a green economy, as well as investing in infrastructure to boost connectivity in the Western Balkans region, the EBRD says in the press release.

ACIBADEM BEL MEDIC Beograd

EBRD Evropska banka za obnovu i razvoj

European Investment Fund Luxembourg

DEG Deutsche Investitions- und Entwicklungsgesellschaft mbH Köln Predstavništvo Beograd

Bel Medic

EBRD

ENEF

EIF

DEG

European Investment Fund EIF

German Development Bank DEG

Development Bank of Austria and Italy

Jasmina Knežević

Zsuzsanna Hargitai