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EBRD Small

EBRD Small Business Support Building stronger businesses. EBRD Small. Private sector development through a multi-tier approach. EBRD financing options for MSMEs.

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EBRD Small

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  1. EBRD Small Business Support • Building stronger businesses • EBRD Small

  2. Private sector development through a multi-tier approach

  3. EBRD financing options for MSMEs • Indirectly: via local partner financial intermediaries FIs and through many FI MSME dedicated facilities, deployed across all countries. In Western Balkans FI partners include Banka Intesa, UniCredit, Societe General, Raiffeisen, Opportunity Banka, Erste Banka etc. • Semi-indirectly: via co-financing mechanisms (e.g., the Medium-sized Co-Financing Facility (MCFF), available in ETCs • Directly: through several facilities created mostly in the context of the strategic ETC and WB Initiatives for direct “tailor-made” financing: In the Western Balkans EBRD operates the Local Enterprise Facility (LEF) and the WB SE Direct Financing Facility (WeBSEDFF)

  4. The Local Enterprise Facility (LEF) was established in 2006 jointly by the EBRD and the Italian Government. • A delegated facility for equity, quasi-equity investments and tailor-made debt financing. • Investments encompass the Western Balkans, Turkey, Bulgaria and Romania, • An extension to the Southern- and Eastern Mediterranean region is currently processed • LEF - instrument of direct financing for local enterprises

  5. Local Enterprise Facility (LEF) • A delegated facility for equity, quasi-equity investments and tailor-made debt financing • Developed to support financing needs of dynamic local enterprises • € 400 million of capital provided jointly by the EBRD (€ 380 million) and the Italian government (€ 20 million) • Total cumulative commitment of € 277 million, out of which € 200 million (72%) disbursed, through the total of 108 projects to date • Immediate pipeline (H2 2013) - € 229.6 million in 45 projects Project Composition Number of LEF Deals in Western Balkans

  6. LEF Investment Criteria • Eligible investments: expansion, restructuring or acquisitions of existing private businesses • Eligible sectors: a wide range of sectors, with only few exceptions (weapons, liquors and tobacco). All investments must be in line with sound environmental principles • Size of investments: LEF individual investment in the form of debt, equity or quasi equity in the amount of up to € 10 million. Minimum individual investment is € 1 million • Time horizon: a period from 3 up to 8 years

  7. SME Financing Provided Through Credit Lines to Local Banks • Improve access to longer term finance for private enterprises for urgent capital investments, as well as working capital; • Facilitate upgrades of SME operations towards EU production standards; • Promote sustainability and competitiveness of the SME sector through crisis and beyond; • Capacity building at the level of participating banks to assess and finance environmental investments. Who EBRD works with in Serbia BancaIntesa Beograd Komercijalna Banka SocieteGenerale Unicredit Bank Serbia Alpha Bank Serbia Erste Bank Serbia Cacanska Banka

  8. Business know how in addition to financing • EBRD’s Small Business Support (SBS) team has been helping SMEs since 1993 • SBS works on a not-for-profit basis with donor funding from 24 countries, with two instruments: the Enterprise Growth Programme (EGP) and Business Advisory Services (BAS) • SBS promotes good management in small businesses in the EBRD region, by providing direct assistance to individual enterprises, helping them to grow their businesses and become more competitive • Market and sector development activities strengthen the local consultancy markets and disseminate sector best practices • SBS at a glance • Over €200m donor funding • 1,800+ EGP projects • 12,500+ BAS projects • Nearly 800 market development activities • Active in 25 countries

  9. EGP operates on a cost-sharing basis (minimum 10% of client contribution), utilising international consultants with over 15 years of experience in the specific industry. • EGP focuses on substantial managerial and structural changes within companies, focusing on financial management, strengthening organisation, management, operations, sales and marketing. • Project implementation period is between 12 and 18 months • BAS assists individual enterprises to engage local consultants on a cost sharing basis (25 -75% of the total net project cost, capped at €10,000) • BAS supports projects of market analysis and planning, feasibility studies, business plans, information systems implementation, quality standards introduction, energy efficiency studies etc. • Project implementation period is between 2 and 6 months • BAS develops infrastructure of local consultants through different trainings, roundtables, visibility events and workshops. • EGP Brings International Know How BAS Fosters Local Expertise

  10. SBS eligibility criteria

  11. SBS helps its clients in both pre and post investment stages to make companies creditworthy and suitable for further investment • SBS clients in the Western Balkans received a total of €370 million of EBRD investments, both in debt and equity • SBS clients often obtain non-EBRD financing, such as through local commercial banks. In 2012, 15% of SBS enterprises received non-EBRD investments with a total value of €84 million • SBS closely cooperates with the EBRD LEF,through improving financial reporting and accounting standards Both a BAS and EGP client, a beverage manufacturer in Skopje received € 1 million from Stopanska Banka, and € 2 million from Komercijalna Banka

  12. SMEs using external finance - barriers • Access to different financing instruments offering more favourable terms – specific credit lines, business angels, development funds • Misunderstanding that banks are partners and support in developing SME’s business • Lack of management’s finance knowledge and skills to do business with FI

  13. SBS Serbia – with EU support

  14. “Support to SME Development in Serbia” • Programme Objectives: Enhance the competitiveness and productivity of the Serbian private sector economy • Main activities: • Direct enterprise assistance through SBS over a period of 36 months • Trainings for individual entrepreneurs and local consultants in priority areas • Expected results: • A minimum of 210 BAS projects • A minimum of 30 EGP projects • A minimum of 90 entrepreneurs trained • A minimum of 60 consultants trained

  15. Small Business Support European Bank for Reconstruction and Development Blue Centre Serbia B1/VI Spanskih Boraca 3 11070 Novi BeogradTel: +381 11 2120642 basserbia@ebrd.comwww.ebrd.com/sbs

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