Western Balkans: Study on SMEs Access to Finance

The objective of the study is to assess the potential of SME development in the Western Balkans countries, analyse the existing gaps in financing of SMEs and present recommendations for EIB’s future activity in the region to promote economic development via enhanced private sector financing.

The study also examines market needs for risk-bearing instruments (including subordinated debt and risk capital), as well as guarantees and other financial instruments, and the contribution of capital markets.