COSME PROGRAM PROMOTION HELD

Organized by the Regional Agency for Development and European Integration, Belgrade, the promotion of the COSME program was held, which will provide financial support to micro, small and medium-sized enterprises and entrepreneurs in Serbia in the amount of 60 million euros.

COSME is a program of the European Union for the competitiveness of micro, small and medium-sized enterprises and entrepreneurs with a total budget of up to 2.3 billion euros for the period 2014-2020. year. The COSME program, which consists of four components, was presented by Milica Zatezalo from the Ministry of Economy, the national coordinator of the COSME program in Serbia. On that occasion, Milica Zatezalo emphasized that all four components - access to financial resources, access to markets, creation of better conditions for competitiveness and encouragement of entrepreneurship - are available to users from Serbia. Users of the first component, access to financial resources, are directly micro, small and medium-sized enterprises and entrepreneurs, while development agencies, chambers of commerce, clusters, business associations, etc. can apply for funds from the other three components.

The first financial instrument to be marketed in Serbia from the COSME program was presented by Igor Pavlović from Bank Intesa, director of the Department for Sales Management for the Small Business Segment. Mr. Pavlović emphasized that the contract between the European Investment Fund and Bank Intesa is the first contract signed within the COSME program. Thanks to the financial support of the EU, the European Investment Fund has provided a direct guarantee that will enable Bank Intesi to support around 3,000 micro, small and medium-sized enterprises and entrepreneurs in Serbia over the next two years through the granting of loans for working capital in the maximum amount of 150,000 euros. Micro, small and medium enterprises and entrepreneurs who have been in business for at least 15 months can apply for this support. The loan repayment term is 30-36 months with a grace period of 3-6 months. The only security instrument is the promissory note of the client and the owner.