EBRD Youth in Business in Western Balkans
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The program aims to increase youth entrepreneurs and youth-led micro, small and medium-sized businesses ("Youth MSMEs") access to finance and business skills, allowing youth MSMEs to grow and deliver economic performance and a more inclusive economic development in the region. This is expected to contribute to several other social gains such as increased oppor...
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- B03 - Contributions to specific-purpose programmes and funds managed by international organisations (multilateral, INGO)
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More about the contribution
The program aims to increase youth entrepreneurs and youth-led micro, small and medium-sized businesses ("Youth MSMEs") access to finance and business skills, allowing youth MSMEs to grow and deliver economic performance and a more inclusive economic development in the region. This is expected to contribute to several other social gains such as increased opportunities for employment and income generation and decreased emigration of youth in the Western balkans. The program also entails significant elements that aim to support the recovery following the economic crisis caused by Covid-19. Through local partner financial institutions (PFIs), the EBRD will offer credit lines dedicated to youth MSMEs in combination with a first-loss risk cover. Sida funding is proposed to cover the capacity building component of the program which will be made up of technical assistance to the PFIs and also access to know-how aimed at participating youth entrepreneurs, in the form of business advisory support, business development and networking opportunities. Specific trainings on digitization, value chain management and environmental sustainability will be included as a response to needs emerged during the current pandemic.Important elements to note in the proposed intervention are also the regional exchange and networking that will be promoted, as well as the intent to engage with local organizations with mandates related to youth entrepreneurship.
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Total aid 44,500,000 SEK distributed on 0 activities
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Result
The programme has started picking up pace after a relatively slow start due to the pandemic. Overall, the reporting for 2023 notes that the programme successfully enhanced financial access, provided technical support, and expanded outreach to young entrepreneurs across the Western Balkans, contributing to sustainable economic growth and youth empowerment in the region. Some results (mainly at output level) reported: Since its inception in July 2022, the EBRD has signed a total of €27 million of financing with seven Partner Financial Institutions (PFIs), which have disbursed €8.9 million to eligible Youth MSMEs through 997 YiB subloans. The disbursement of first tranches to PFIs was 15.5 M€ of which 8.9 M€ had already been disbursed to MSMEs as at the end of 2023. The subsequent tranches (corresponding to the remaining 11,5 M€) under each credit lines are planned for 2024. In addition, the two lines of credits with Intesa Sanpaolo Bank Albania and Procredit Bank Macedonia were signed in October and November 2023. These PFIs have not disbursed loans yet to MSMEs but the results of such operations will show in 2024. The targets for these indicators are 100 M€ of lending to PFIs and 2500 subloans respectively by the end of the programme, i.e. in March 2027. EBRD assesses that the results for 2023 were as expected or stronger than expected given when the lending started. Furthermore, EBRD extended 4 M€ in loans supported by 400,000 € in First Loss Risk Cover (FLRC) to three PFIs in Albania and North Macedonia during 2023. Sida's support is not used for the FLRC but by EBRD. The Technical Cooperation Programme Consultant (TC Consultant) continued supporting the PFIs, delivering tailored Technical Assistance (TA) and Capacity Building to enhance the capabilities of each financial institution to effectively serve the YiB segment. Under the know-how component, a total of 59 local advisory projects with Youth MSMEs in all six target countries have been initiated, of which 34 projects in 2023. In addition, several trainings and visibility events were organised with PFIs and at market level. In total, 728 young entrepreneurs benefitted from training, while more than 36,578 Youth MSMEs and individuals were reached through outreach activities, events with PFIs and other eco-system stakeholders. In addition to a number of activities initiated and performed linked to the above outputs, the market assessments for the six Western Balkans countries were completed and presented and the Mid-Term Review (MTR) of the programme carried out.
The overall objective of the programme is to increase young entrepreneurs' and Youth micro, small and medium-sized businesses ("Youth MSMEs") access to finance and skills to help them grown their business, thereby promoting youth entrepreneurship. This aims to demonstrate that, when market failures are addressed and Youth MSMEs are given equal opportunities, they can deliver in terms of economic performance and growth, and a number of other social gains. The specific objectives of the Programme are as follows: 1. Increased access to finance for Youth MSMEs. 2. Diversified and deepened financial system through increased capacity of PFIs under the Programme to serve the young entrepreneur segment. 3. Increased access to know-how and development expertise for young entrepreneurs and partnering entities with a mandate to support youth entrepreneurship, as well as increased skills and expanded networks. The expected impact of the programme is more competitive and inclusive economies through a strengthened role for young entrepreneurs.
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