European Union approved 2m EUR worth of non-refundable aid to back SME development

- European Union has approved non-refundable aid in amount of 2m EUR for the support to development of small and mid-sized enterprises in Serbia. This money will be used for financing of 400 projects – the European Agency for Reconstruction (EAR) stated.

- The aim of the program of distribution of non-refundable aid is the provision of help to enterprises and organizations that provide business support to Serbian economy – said the Program Manager, Michael Cilcomons, at the presentation of the project.

As he said, the amount of individual donations will range between 25,000 and 100,000 EUR for the projects that stimulate development of entrepreneurship, and between 25,000 and 150,000 EUR for the projects that stimulate innovations. The completion of the commenced projects is scheduled for the end of August.