Funds of the Council of Europe Development Bank

Erste Bank A.D. Novi Sad executed the Agreement with the Council of Europe Development Bank for the approval of the projects within the Programme of supporting MSMEs for the creation and preservation of viable jobs.

The end borrowers include small and medium enterprises throughout the territory of the Republic of Serbia.

Purpose of the disbursements to end borrowers made from the CEB funds: 

• Investment projects;
• Financing of working capital/permanent working capital.

Maximum amount of the funds approved to end Borrowers:

• Maximum amount of the investments to end borrowers is EUR 2,000,000.00;
• Maximum amount approved for (permanent) working capital to end borrowers is EUR 1,000,000.00.

The funds of CEB 2020 may not be used for the following:

• Refinance of the liabilities of end borrowers (own investment, EBS refinance, or refinance of liabilities of other banks);
• Revolving;
• Financial fees and non-financial elements, such as depreciation (amortisation);
• Financial investment costs (payment of debts, refinance, fees under interests, acquisition of participation in enterprise capital, etc.).

General criteria of ineligible end borrowers:

• Extractive industries (NACE 8) except division 8. Other mining and quarrying (8.1 Quarrying of stone, sand and clay; 08.91 Mining of chemical and fertiliser minerals and 08.92 Extraction of peat; 08.93 Extraction of salt);
• Distilling, rectifying and blending of spirits (NACE C11.01);
• Manufacture of tobacco products (NACE C12);
• Manufacture of coke and refined petroleum products (NACE C19);
• Processing of nuclear fuel (NACE C24.46);
• Manufacture of weapons and ammunition (NACE C25.4);
• Manufacture of military fighting vehicles (NACE C30.4);
• Financial and insurance activities (NACE K64-66);
• Real Estate Activities (NACE L68);
• Gambling and betting activities (NACE R92);
• Activities of membership organisation (NACE S94).

The product is available upon providing the obligatory documentation and security instruments, and if you hold the corporate current account at the bank.