The European Bank for Reconstruction and Development (EBRD), with the support of the European Union, has announced the launch of the Enterprise Expansion Fund II (ENEF II), an investment fund that targets high-potential small and medium-sized enterprises (SMEs) and mid-cap companies in the Western Balkans, providing them with access to tailored financing.

The ENEF II has raised €57 million in capital commitments from its initial investors, which include the EBRD, the European Union (EU), Italy’s Cassa Depositi e Prestiti and Germany’s Kreditanstalt für Wiederaufbau.

At the official launch event held in Belgrade, Serbia, Banca Intesa announced its intention to invest up to €7 million in the ENEF II, marking the first private-sector contribution to the fund. The EU (through the EBRD) will match this investment, further bolstering the fund’s resources to €71 million. Joining the fund’s initial investors, Banca Intesa further solidifies its commitment to fostering local entrepreneurship and sustainable growth.

Darko Popović, President of the Executive Board of Banca Intesa, said: “I am extremely proud that, in strengthening our cooperation with the EBRD, we continue to find new ways to empower SMEs in our country and other Western Balkan countries, thus helping to strengthen business ties, the economies of individual countries, and the prosperity of the entire region. As the first private investor, Banca Intesa – part of the Intesa Sanpaolo International Subsidiary Banks Division – is committed to investing up to €7 million in the ENEF II, from which the funds will be disbursed to clients with significant growth potential, along with the advisory support of EBRD consultants. In cooperation with the EBRD, we have so far contracted a total of more than €466 million, and are working towards achieving our ESG goals through this project, in accordance with the business plan of our parent group, Intesa Sanpaolo.”