At a signing ceremony, organised during the Western Balkans Summit, Commissioner Hahn confirmed the intentions of the Commission to provide new financial contribution of €48 million to the SMEs in the region.
The assistance will be channelled through the Western Balkans Enterprise Development and Innovation Facility – a key EU instrument for private sector support. Today’s new assistance package will tackle the financial and capacity constraints of the Western Balkans’s companies. The funds will be provided in partnership with the European Investment Fund, the European Bank for Reconstruction and Development and the World Bank. So far more than €100 million of EU funds was provided under this unique platform since 2012. With the fresh money announced today, the Western Balkans Enterprise Development and Innovation Facility will in total mobilise more than €650 million of investments for the SMEs in the region.
The goals of the Facility correspond directly to the objectives of the Regional Economic Area as it boosts regional ownership, cooperation and trade.
