EBRD and Intesa support female enterpreneurship with EUR 5 m

As it was stated in the EBRD announcement,Banca Intesa is the first bank in Serbiawhich joined the program and the funds from the loan will be used for fundingSMEs.

It was specified that the EBRD loancomprises technical support to partner financial institutions as well asconsulting services to women entrepreneurs.

According to the EBRD head forSerbia, Mateo Patrone, "the project targets two important objectives ofEBRD in Serbia: support to private sector and overcoming the gender gap entrepreneurshipthrough expanding the approach of funding for women in business”.

It was outlined that EBRD through theprogram "Women in business" is planning to contribute with EUR 20 mto creating loan lines for support to female entrepreneurship through localbanks in the countries of the West Balkans including Serbia, Albania, Bosniaand Herzegovina, Macedonia and Montenegro.

The program comprises funding,technical support for partnering institutions, mentoring and long-term trainingfor women entrepreneurs as well as risk sharing mechanism.