European Investment Bank (EIB) Credit Line

Erste Bank a.d. Novi Sad signed an agreement with the European Investment Bank on the funds for small and medium-sized enterprises in the amount of 25 million euros. These loans will enable small and medium-sized enterprises, as well as public administration authorities to finance their development projects at interest rates that are among the lowest in Europe and with long repayment periods.

Loan purpose

Investments in development projects and investment in non-current working assets

Maximum amount

Up to EUR 12,500,000.00 per project

Loan use period

It is adjusted to the investment implementation period, but not more than 12 years for SMEs; up to 15 years for public administration authorities

Grace period

Up to four years; up to five years for public administration authorities


Interested companies may obtain more detailed information about this loan in all Erste Bank corporate centres and, if you belong to the micro segment, in Erste Bank entrepreneurial centres.

Note: The Bank undertakes to provide end borrowers with the benefit of the EIB funds by granting loans at a lower interest rate and with a longer maturity period. The amount of the financial benefit transferred to end borrowers is defined by an agreement and is at least 50 basis points.

Which enterprises and public administration authorities may apply for the EIB credit line funds:

Autonomous small and medium-sized enterprises (including entrepreneurs) with fewer than 250 employees before the investment approval and meeting the required criteria may apply for the loan.

Small and medium-sized enterprises considered to be autonomous are those where:

  • Less than 25 percent of their capital is owned by another company;
  • 25 percent or more of their capital is owned by another company, where such group, according to the consolidated data, employs fewer than 250 permanent employees
  • 25 percent or more of their capital is owned by a government authority, and that authority represents a local self-government unit whose annual budget does not exceed ten million euros and whose territory includes fewer than 5,000 inhabitants
  • 25 percent or more of their capital is owned by companies or institutions in accordance with the exceptions stated in Article 3 paragraph 2 of the European Commission Recommendation 2003/361/EC of 6 May 2003 (venture capital funds or business angels, if they invest less than 1.25 million euros in the same company, universities or non-profit research centres, institutional investors, including regional development funds)

Public administration authorities in the area of infrastructure and end borrowers of any size or ownership structure in the area of economy, knowledge, energy, environmental protection, industry, health, education, services and tourism meet the eligibility criteria, provided that the amount of the funds approved for financing the projects not related to SMEs does not exceed 30% of the total loan amount.

SME sectors that cannot apply for a loan:

  • Manufacturing of arms and ammunition, military or police equipment or infrastructure, as well as the infrastructure by which personal rights and freedoms are limited (e.g. prisons, detention units of any type)
  • Sector related to gambling activities and related equipment
  • Tobacco production, processing or distribution
  • Use of live animals for experimental and scientific purposes, if it is not possible to guarantee compliance with the provisions of the Council of Europe Convention on the Protection of Vertebrate Animals Used for Experimental and Other Scientific Purposes
  • Activities having an impact on the environment, with that impact not being mitigated and/or compensated to a significant extent (see section 3 on the compliance with the EU directives and domestic environmental laws)
  • Sectors that are considered ethically or morally controversial – e.g. research relating to human cloning
  • Activities solely in connection with “real estate development”

Participation of the European Investment Bank

The European Investment Bank, a financial institution of the European Union founded in 1958 in accordance with the Treaty of Rome, participates at the same level with domestic financial institutions in financing investment programmes that are a part of the European Union goals if these programmes meet the eligibility criteria for their financing by the European Investment Bank.