Revolving Credit Fund – Loans to SMEs and Entrepreneurs

In 2001 and 2002, the European Union approved to the Republic of Serbia, via the European Agency for Reconstruction, a grant of EUR 15 mn for financing small and medium-sized enterprises and entrepreneurs. The grant was fully disbursed in less than two years, while regular principal and interest repayments went into the Revolving Credit Fund. By end-December 2023, 1,415 loans worth EUR 143.9 mn were approved to small and medium-sized enterprises and entrepreneurs from the grant and the Revolving Credit Fund.

In late 2005, following disbursement of the grant, the European Agency for Reconstruction transferred the ownership of the Revolving Credit Fund’s assets to the Republic of Serbia, on the condition that the Fund’s assets continue to be used under the same terms and for the same purposes.

Purpose of lending

Purchasing plant and equipment for the production of goods and/or provision of services, construction of production facilities; beneficiaries are to finance at least 20% of the project value from their own sources and may not use more than 20% of the loan for financing current assets.

The Revolving Credit Fund assets are channelled to end-beneficiaries – via the following intermediary banks:

• ADRIATIC BANK (www.adriaticbank.rs)
• AIK BANKA (www.aikbanka.rs)
• ALTA BANKA (www.altabanka.rs)
• API BANK (www.apibank.rs)
• BANKA POŠTANSKA ŠTEDIONICA (www.posted.co.rs)
• ERSTE BANK (www.erstebank.rs)
• EUROBANK DIREKTNA (www.eurobank-direktna.rs)
• HALKBANK (www.halkbank.rs)
• MIRABANK (www.mirabankserbia.com)
• NLB КОМЕRCIJALNA BANKA (www.nlbkb.rs)
• ОТP BANKA SRBIJA (www.otpbanka.rs)  
• UNICREDIT BANK SRBIJA (www.unicreditbank.rs)

For more information on this credit line, contact the intermediary banks or the NBS Centre for Cooperation with Domestic and International Institutions and Financial Organisations – Revolving Credit Fund Management Unit, National Bank of Serbia, Kralja Petra 12, 11000 Beograd (telephone numbers: +381 11 3027-315, 3027-318, 3027-319, 3027-321, 3027-353).

Terms of lending