EIB Global and Erste Bank a.d. Novi Sad have entered into an agreement for a €10 million loan and a €1.3 million grant to support inclusive growth and employment in Serbia. This partnership, announced at a ceremony in Belgrade, employs a novel impact incentive structure to provide funding to SMEs and mid-sized companies that offer permanent employment and development opportunities, focusing on women, youth, and disabled persons. Companies meeting these social goals will be rewarded with financial incentives from the EIB’s Economic Resilience Initiative. EIB Global will also aid small businesses in effectively implementing socially impactful practices. EIB Vice-President Robert de Groot emphasized the initiative’s role in promoting gender equality and youth employment, while Jasna Terzić, CEO of Erste Bank Serbia, highlighted the importance of inclusive growth. This collaboration marks EIB Global’s third impact incentive loan in the Western Balkans and adds to its history of supporting the region with over €7.8 billion invested since 1977. EIB Global aims to support €100 billion of investment by 2027 and works closely with various international partners. Established in 1864 and part of Erste Group, Erste Bank Serbia has a significant presence with 88 branches and focuses on renewable energy financing. The Economic Resilience Initiative, supporting this grant, was launched in 2017 to address challenges related to displacement and migration. The EIB has been a major financier in the Western Balkans, supporting infrastructure, SMEs, and local authorities.
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