This article is published in association with European Investment Bank.
- EIB Global has signed a €10 million loan and a €1.3 million grant with Erste Bank Serbia.
- The funds are aimed at supporting small businesses, with a focus on improving their access to finance.
- The loan’s innovative impact incentive structure is designed to promote inclusive employment opportunities.
At a ceremony held today in Belgrade, the European Investment Bank (EIB Global) and Erste Bank a.d. Novi Sad signed agreements for a €10 million loan and a €1.3 million grant aimed at fostering inclusive growth and employment across Serbia.
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.
Background information
About EIB Global
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives
EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.
About Erste Bank Serbia
Erste Bank a.d. Novi Sad was created almost two decades ago by the acquisition of Novosadska banka, the oldest financial institution in the country, founded in 1864 as Novosadska štedionica. It is a member of Erste Group, a leading financial services company in Central and Eastern Europe. Erste Bank in Serbia has 88 branches, four commercial centres and over 1 350 employees serving almost half a million clients. The Bank focuses on doing business with individuals, local communities, small and medium-sized enterprises, as well as large corporate clients. It is the market leader in the financing of renewable energy projects, in line with its strategic commitment to contribute to a sustainable future for its clients, employees and the community.
About the Economic Resilience Initiative Fund
The Economic Resilience Initiative Fund, which backs this grant, was established by the EIB in 2017 to channel donors’ resources to impactful projects in the Southern Neighbourhood and Western Balkans to help meet the challenges posed by forced displacement and migration. The fund donors are Bulgaria, Croatia, Italy, Luxembourg, Lithuania, Slovakia, Slovenia, Poland and the United Kingdom.
About EIB Global in Serbia and the Western Balkans
The EIB has been active in Serbia since 1977, providing finance to support key infrastructure projects as well as SMEs, industry, services and local authorities. Since the start of its activities in the country, it has enabled over €7.8 billion of investment in SMEs and the revitalisation of transportation, education, healthcare and utility infrastructure. The EIB is one of the leading international financiers in the Western Balkans.
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