BAKU, Azerbaijan, November 5. At a ceremony held in Belgrade, the European Investment Bank (EIB Global) and Erste Bank a.d. Novi Sad signed agreements for a 10 million euros loan and a 1.3 million euros grant aimed at fostering inclusive growth and employment across Serbia, Trend reports citing the EIB's latest reports.
Using an innovative impact incentive structure, Erste Bank will provide financing on affordable terms to small and medium-sized enterprises (SMEs) and mid-caps that commit to offering permanent employment, career development and leadership opportunities, with a particular focus on women, young people and people with disabilities.
Companies that achieve such social inclusion objectives will receive financial incentives under the grant component funded by the EIB’s Economic Resilience Initiative (ERI). EIB Global will also provide technical assistance to small businesses, helping them implement projects and inclusive practices with strong social impact, ensuring measurable and lasting results.
“This new partnership with Erste Bank demonstrates our shared and growing commitment to social inclusion.”, said EIB Vice-President Robert de Groot, who is responsible for the Bank’s operations in the Western Balkans. “By linking incentive grants to clear targets, we are promoting gender equality, youth employment and job opportunities. This initiative will strengthen SMEs’ competitiveness, boost economic resilience and foster women’s entrepreneurship, while creating more equal opportunities for all.”
CEO of Erste Bank Serbia Jasna Terzić said: “At Erste Bank, we believe that sustainable growth is only possible when it is inclusive – when it opens opportunities for all members of the society to thrive. Through this partnership with the European Investment Bank, we are taking a meaningful step toward supporting companies that share our commitment to social impact and equal opportunity. By helping businesses invest in people – especially those who face barriers to employment – we are not only fostering professional development and inclusion but also strengthening the resilience and competitiveness of the Serbian economy as a whole.”
This latest partnership is EIB Global’s third impact incentive loan in the Western Balkans. The Bank won an Uxolo Award in 2023 for its innovative approach to SME financing with a long-term social footprint.