Good news for small- and medium-sized enterprises: EU, EURZH helped with 1m euros

The European Bank for Reconstruction and Development (BERZH) signed a 1m Euro technical assistance package, financed by the European Union (BE), for small- and medium-sized enterprises (NVM) in Kosovo. Local NVMs can now benefit from adapted advisory services designed to help them build their export capacities and have new opportunities for growth and development.

This has been made known in a European Bank for Reconstruction and Development for media communiqué (EBRD), through which it said that the technical assistance package is part of the NVM Competition Support Programme in the Western Balkans, through which the EURZH offers credit and the EU contributes to promotional grants.

“Although the NVMs in Kosovo make up 99.8 %s of registered businesses and almost 80 percent of employment, they continue to face challenges that prevent their ability to compete in regional and international markets. The programme will focus on helping NVMs bring their production capacities, product quality and environmental sustainability to EU standards, the communiqué says.

According to the EBRD, advisory projects will support the recovery of SMEs and help them compensate for the negative impact on their business by helping them build key skills in management, business models, communication, supply chain management and sales diversification, among other things.

Market development and sector activities will be implemented with the aim of promoting an environment for entrepreneurship, offering training and seminars to build capacities to meet the needs of companies and consultants, at the same time assisting business associations and the sector of SME clients.

Neil Taylor, the EURZH chief for Kosovo, said continued co-operation with the EU is enabling many entrepreneurs in Kosovo to build new skills, export more and become greener.

The private sector's <x0nd>x is our first priority in our new EURZH strategy adopted this week”, he said.

EU Office in Kosovo chief Thomas Szunyog said additional financing for advisory services signals the EU's continued support for Kosovo's NVMs and will enable them to become competitors in regional and international markets.

Kosovo became a member of the EURZH and the operating site in December 2012. Since then, the Bank has invested 545m euros in Kosovo.