Brussels – The European Investment Fund (EIF) and Erste Bank Serbia have signed a new guarantee agreement aimed at supporting micro-enterprises in Serbia under the EU Programme for Employment and Social Innovation (EaSI). This EaSI guarantee agreement with Erste Bank Serbia will cover a loan portfolio of 4.7 million euros for around 850 Serbian micro-borrowers, who will be able to benefit from loans on attractive terms, without having to provide additional guarantees. Commenting on the transaction, Marianne Thyssen, EU Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said: “The European Commission is fully committed to promoting inclusive entrepreneurship in the fight against social and financial exclusion. I therefore warmly welcome today’s agreement with Erste Bank, which marks the first of its kind in Serbia under the EaSI programme”.
Erste Bank Serbia will implement the social banking programme gradually, starting with offers for start-ups and social entrepreneurs, followed in 2017 with activities targeting civil society organisations and finally, in 2018, the institution plans to develop offers for low income private individuals.
