European Investment Bank (EIB)
loans to businesses in the Western Balkans show a tangible
impact on employment and investment. This is according to an EIB
study assessing the impact of the financial institution's loans
to SMEs in Serbia, Bosnia and Herzegovina, Montenegro, and
Northern Macedonia between 2009 and 2023. Specifically, SMEs
that have received financing report 15 more jobs per million
euros of EIB-guaranteed loans and higher investment, with a 20
percent increase in total assets and 35 percent increase in
fixed assets compared to similar firms that have not benefited.
The impact on employment is stronger for firms that had not
previously accessed financing, suggesting the importance of the
favorable market conditions offered by EIB loans. Since 2008,
the EIB has financed loans on favorable terms to 28,400 SMEs in
the Western Balkans. "This study demonstrates the positive
effects of EIB financing in empowering firms to invest, expand
and contribute to the long-term development of the region,"
stressed EIB Chief Economist Debora Revoltella, who said the
report "highlights the Bank's crucial role in promoting
financial inclusion by enabling SMEs to access bank financing
for the first time."
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