The Western Balkans Enterprise Development & Innovation Facility (WB EDIF) consists of four pillars, of which one is the Western Balkans EDIF Guarantee Facility:
The Western Balkans EDIF Guarantee Facility, managed by EIF, provides guarantees or/and counter-guarantees to selected financial intermediaries which incentivises them to build up new SME loan portfolios and thereby improves SMEs’ access to bank lending in their respective countries.
Which financial intermediaries are eligible to apply for the WB EDIF Guarantee Facility?
The Guarantee Facility of WB EDIF specifically targets financial or credit institutions, guarantee schemes including mutual guarantee organisations, micro-finance institutions, and any other financial institution providing loans and/or guarantees to SMEs which are established in the Western Balkans (Albania, Bosnia and Herzegovina, Croatia,*, former Yugoslav Republic of Macedonia, Montenegro and Serbia).
Activities carried-out by SMEs should not breach ethical principles or focus on any of the restricted sectors.
What are the benefits of becoming an intermediary under the WB EDIF Guarantee Facility?
The key benefit of becoming a financial intermediary under the WB EDIF Guarantee Facility is that EIF provides a guarantee or counter-guarantee on part of the risk incurred of the SME loan portfolio which the financial intermediary builds up; this will enable the financial intermediaries to increase their loan volumes and to provide loans at more favourable conditions resulting in a broadened customer base and expanded business activities.
Are you a financial intermediary and would like to work with the WB EDIF Guarantee Facility?
Intermediaries were selected in two rounds via an Open Call for Expression of Interest, the first in 2013/2014 and the second in 2015. Eligible Financial institutions fulfill certain established criteria, including financial standing, financing capacity, operational capabilities, and expected impact, including in terms of volumes and geographic reach.
Now open – WB EDIF Guarantee Facility – Serbia Window (WB EDIF GF Serbia)
Following the success of the initial implementation of the WB EDIF GF and WB EDIF GF II, a dedicated window is now open focusing on SMEs in Serbia. In line with the initial two facilities, GF Serbia will provide guarantees to eligible Financial Intermediaries established and operating in Serbia to encourage them to build up new portfolios of SME transactions and thereby improving Access to SMEs in Serbia.
You can access the open Call here: http://www.eif.org/what_we_do/resources/wbedif/index.htm
EIF selects intermediaries after carrying out a detailed due diligence based on these criteria. Following approval by the competent organs, EIF will sets up contractual arrangements with the selected intermediaries.
Access the list of Financial Intermediaries with which EIF has signed agreements under the WBEDIF Guarantee Facility