Diplomacy for Growth: Renewed Subsidised Finance Programme for the Western Balkans

The Facilitation Committee of Funds 394/81 and 295/73, chaired by the Ministry of Foreign Affairs and meeting at the Farnesina with representatives from the Ministry of Economy and Finance, the Ministry of Enterprises and Made in Italy, and the Conference of Regions, has approved the renewal of the Subsidised Finance Programme for the Western Balkans managed by SIMEST, allocating an additional reserve of EUR 200 million. This credit line was launched at the initiative of the Minister of Foreign Affairs and International Cooperation, Antonio Tajani, during the Trieste Conference in January 2023.

"Italy wants to play a leading role in the Balkan region, aiming to establish itself as a hub of trade and cooperation with the countries in the area," stated Minister Tajani, adding that "since its inception, our government has prioritised efforts to integrate the wider Mediterranean and African regions into the European economic space. Today's renewed initiative goes in this direction."

The exhaustion of the EUR 200 million credit line in just over a year demonstrates the measure's appreciation among the business community. Thanks to today's renewal, businesses can apply for financing at particularly favourable rates (currently 0.5%), with grants of 10% and exemption from providing guarantees. The allocated credit aims to encourage initiatives that facilitate market entry in the Balkan countries, such as financing start-ups and covering the costs of required certifications for product exports.

Today's initiative follows the recent launch of a new subsidised finance measure for Africa and reaffirms the Italian Ministry of Foreign Affairs' commitment to supporting the internationalisation of Italian businesses in areas of particular interest for our exports.