On 25 June 2021, the Western Balkans Enterprise Development and Innovation Facility (WB EDIF) held its first virtual Business Forum. The event was organized by the Enterprise Europe Network and supported by the European Commission and the European Investment Fund.

More than 130 participants from the entire Western Balkans region and beyond attended the Business Forum. Most of the attendees were Small and Medium Enterprises (SMEs), local intermediaries and entrepreneurs. The participants wanted to learn more about the existing and future funding opportunities provided by the European Commission and international financial institutions under the WB EDIF platform. The audience also had the possibility to hear about the experience from finance and advisory providers and fellow SMEs who had benefited from the available programmes.

The event was opened by a lively panel composed of representatives of the Enterprise Innovation Fund (ENIF) under WB EDIF, EBRD, Raiffeisen Albania bank and the Serbian SME BG Reklam. The speakers shared their experience from the pandemic and how the available opportunities could be utilized. The panellists shared a common opinion that the region has a very good potential, plenty of innovative ideas and creativity that can be translated into new business opportunities and growth, if the existing hurdles and market failures are adequately addressed. The general consensus was that, like and more than in the EU, the crisis in the Western Balkans can be also an opportunity to grow stronger and more resilient if companies find market niches, show creativity and innovation.

In the second part of the event an online matchmaking took place, where companies were able to meet finance and advisory providers under the WB EDIF. The meetings were bilateral and the overall feedback provided by attendees and intermediaries has been very positive.

A special thanks goes to the Enterprise Europe Network for organizing the event and to all attendees and entrepreneurs who contributed to making it a success.

Support to the private sector has been identified in the EU’s Economic and Investment Plan for the Western Balkans as one of the Flagships. The development of a robust, innovative and competitive private sector is essential for the socio-economic development of the Western Balkans and its regional integration. This requires, in particular, increased investments in SMEs and their capacity to innovate, scale-up and grow

https://wbif.eu/news-details/1st-western-balkans-enterprise-development-and-innovation-facility-wb-edif-business-forum

On 12 November 2020 the World Bank, European Union, Western Balkans Enterprise Development and Innovation Facility, and Deloitte officially launched PowerUP program – Capacity Building for Early Stage Firms in the Western Balkans.

The program is designed for SMEs and start-ups and it aims to boost their business growth and strengthen resilience to the COVID-19 pandemic. Out of several hundred applications, 250 innovative companies with bold ideas and great potential to grow and thrive were selected to continue their journey in the PowerUP program.  During the online Launch event, participating companies had the opportunity to learn more about the next steps of the program and meet the program organizers and implementers.

Over 400 firms applied for the PowerUP program.  More than 40% of the applicants had to be turned away, but organizers hope to be able to reach out to those firms for future support. We congratulate the selected 37 firms from Albania, 79 firms from Bosnia and Herzegovina, 23 firms from Kosovo, 21 firms from Montenegro, 31 firms from North Macedonia, and 58 firms from Serbia. Our colleagues at Deloitte Consulting will deliver tailored workshops and mentoring sessions over the course of the next few months.

The webinar – Small Business Financing – was held on 27 October 2020, and presented available financing tools for entrepreneurs and SMEs in Montenegro.  This event increased the visibility of the SME financing schemes supported by the EU that are available in Montenegro and it provided advice on SMEs’ access to finance.

Speakers included the European Investment Fund, Investment and Development Fund, South Central Ventures, and more.

Please click here to find out more information.

The webinar was implemented by Expertise France, Bpifrance and Business France and supported by WB EDIF in coordination with the EU, Montenegro Ministry of Economy, Investiciono-razvojni fond Crne Gore A.D., EIF, CKBbanka and South Central Ventures.

The “WB EDIF PAG” took place virtually as a session of the WBIF Steering Committee, hosted by the Federal Ministry of Finance of Austria. The PAG discussed the impact of the COVID-19 pandemic from a regional perspective, and the response package launched by the EU institutions and IFIs in the frame of the “Team Europe” global support to WB6 economies fighting the pandemic. In particular, the top-ups of the WBEDIF Guarantee Facility II and of the Regional Competitiveness Programme were presented and approved as part of the wider package.