EBRD Youth in Business in Western Balkans
Contribution ID : SE-0-SE-6-14470This website displays open data about Swedish aid, which shows when, to whom and for what purpose Swedish aid is paid out, as well as what results it has produced. This page contains information about one of the contributions financed with Swedish aid.
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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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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Result
After a slow start during 2021, the programme has managed to get up to speed better during 2022. Objective 1. Increased access to finance for Youth MSMEs. In November 2022, an official launch event was held where Sida and Italy presented brief remarks. In connection to the event, four Partner Financial Institutions joined the programme (target: 4). In total, EUR 23 million in loans were signed for on-lending to youth businesses in Bosnia and Herzegovina, Kosovo, Montenegro, and Serbia. Italy through the Central European Initiative's Fund for Technical Cooperation joined the programme as a co-donor. Moreover, negotiations with the EU are ongoing regarding potential funding for the First Loss Risk Cover component (currently covered by EBRD). In general, the market response has been positive and the pipeline for lending is strong. Objective 2. Diversified and deepened financial system through increased capacity of PFIs under the Programme to serve the young entrepreneur segment. Market assessments were undertaken for all six Western Balkans countries with findings to be concluded in Q1 2023 which will be shared with financial sector and policy stakeholders; Technical assistance programmes were launched with all 4 PFIs to build their capacity to serve youth entrepreneurs. Comprehensive baseline assessments and strategic planning workshops to help the PFIs understand their gaps in servicing youth MSMEs have been conducted to inform tailored technical assistance plans for each PFI. Objective 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. During 2022, 25 advisory projects (target: 25) were undertaken in the frame of the programme, compared to 5 in 2021. Moreover, 350 Youth MSMEs were trained (target: 260), compared to 12 in 2021. Due to the data on impact from the advisory projects (such as increased employment, growth, general satisfaction etc.) being collected after one year, it is expected that more insights on impact and relevance of the advisory projects will be gained in 2023.
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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