WB EDIF in your country

WB EDIF in your country

WB EDIF operates in 7 Western Balkan economies
and provides millions of euros of financing and support to SMEs
WB EDIF operates in 7 West Balkan countries
and provides millions of euros of support.

in yout country

WB EDIF operates in 7
West Balkan countries
and provides
millions of euros of support.

North Macedonia

Under the WB EDIF platform, the North Macedonia first received financing via the equity funds ENIF and ENEF.  ENIF’s five investments are in Letz, an Artificial Intelligence (AI) powered app to boost productivity in the work place, Cognism, an end-to-end sales-acceleration solution that provides sales organizations with a more efficient way to prospect,  InPlayer: the next generation video and digital asset monetization platform that works with the largest media and technology companies in the world, CustomSell: a solution helping eCommerce merchants to increase revenue by creating automated marketing campaigns and offering automated “marketing skills”, strengthening their marketing teams and NETi: a search engine filtering algorithm for safer internet browsing, and mobile and e-mail security for businesses.

ENEF made two investments into Cermant – a leading ice cream produce and other frozen goods in North Macedonia and the second one into Markprogres: one of North Macedonia’s major confectioners, specialising in a wide assortment of sweets, snacks, grains and health food.

More recently North Macedonia has seen a speedy uptake in the absorption of the Guarantee Facility whereby EIF signed a agreement with ProCredit North Macedonia in 2016.

On the Support Services side:

  • The EBRD’s Advice for Small Businesses (ASB) has provided advisory support to 83 projects in total, helping SMEs in North Macedonia to grow, enhance competitiveness and bankability. These companies also include one of those funded under ENEF, showing the advantageous synergies between the WB EDIF programmes and instrumets
  • Led by the OECD, the Small Business Act (SBA) assessment supported North Macedonia in improving SME policy making and enhancing the capacity of its policy makers in addressing related challenges,
  • A candidate for Centre of Excellence status under EIB’s study on Regional Centres of Excellence was identified in the INNOFEIT initiative of the Faculty of Electrical Engineering, Ss. Cyril and Mehodius University Skopje,
  • An IP Toolkit was distributed to participants of the Workshop held in Skopje under the programme lead by EIB for support on intangible assets and intellectual property in the Western Balkans
  • The World Bank Investment Readiness Programme through its “PowerUp: Capacity Building for Early Stage Firms in the Western Balkans” programme supported several companies.
21.9m € Financing for SMEs
76 SMEs financed
Western Balkans WB EDIF map Serbia Croatia Kosovo* Montenegro Bosnia and Herzegovina North Macedonia Albania

News & Events


WB EDIF Business Forum

The first WB EDIF Business Forum took place in Belgrade on 26 June 2018 as part of the 12th WB EDIF PAG meeting. The Forum was hosted by the Ministry of Economy of Serbia and the Chamber of Commerce and Industry and took place under the auspices of the European Commission with the support of the EIF.

The event gathered more than 150 participants from the entire region, including officials from the beneficiary economies, EC, EUDs, IFIs, Chambers, banks and finance providers as well as a number of SMEs. Several panels were organized to learn more about what WB EDIF has to offer, to hear stories from the companies benefitting under the facility and to discuss the main access to finance challenges.

The Forum was opened by the President of the Chamber of Commerce, Marko Cadez, State Secretary of Ministry of Economy of the Republic of Serbia, Branimir Stojanovic and Head of Cooperation at Delegation of the European Union to Serbia, Ingve Engstrom.

A business to finance event was organized in the afternoon, where the SMEs from the Western Balkans had the chance to meet the finance and advisory providers under the WB EDIF.

9 Feb
- 2017

EUR 70m for SMEs in Kosovo, Serbia and the former Yugoslav Republic of Macedonia under the Western Balkans Guarantee Facility

The European Investment Fund (EIF) and three ProCredit group subsidiaries have signed guarantee agreements to support Small and Medium Enterprises (SMEs) in Serbia, Kosovo and the former Yugoslav Republic of Macedonia. This was made possible via the Western Balkans Guarantee Facility, funded by the European Union under the Western Balkans Enterprise Development and Innovation Facility. Read more

See more news & events

Case studies

Footer Logo WBEDIF