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Luxembourg supports EBRD’s Trade Ready initiative in Serbia

Published Wednesday October 03 2018

Luxembourg is co-funding the Trade Ready initiative that was launched on 3rd October 2018 in Belgrade. This initiative is designed to facilitate access to finance and business advice provided by the EBRD to SMEs engaged in import and export activities. It offers Serbian SMEs trade finance training, networking opportunities with local banks and encourages a policy dialogue to improve the regulatory environment. While banks can expect to win new clients with the introduction of trade finance products, businesses will benefit from better access to finance and the chance to expand to international markets.

For a number of years, the Luxembourg government has been working with international financial institutions, such as the EBRD, to support a series of specific projects in Serbia. 

During his intervention at the launching ceremony, Ambassador Jean-Louis Thill stated: “as a founding member of EBRD, Luxembourg is proud to be a longstanding donor to its activities. Our country contributes approximately 2.5 million EUR annually to the EBRD, supporting various projects, in particular those with a focus on the Western Balkans. With our financial contribution to the Trade Ready initiative, we want to help making Serbian SME's more competitive at home and abroad as well as to prepare them to cope with competitive pressure and market forces within the EU”. 

Luxembourg gives priority to projects that support SMEs, women in business, providing training to the staff of judicial and regulatory bodies, the implementation of European standards, regional integration, as well as promoting capacity building in the financial sector. Ambassador Thill also reiterated that “Luxembourg will continue to assist the Serbian authorities in the EU accession process through its specific technical assistance programme for Serbia, designed to strengthen the country’s capacities to implement EU law”.