(ANSA) - BELGRADE, 22 OTT - The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up their support for small and medium-sized enterprises (SME) in Serbia during the pandemic, providing a new 10 million euro credit line to Intesa Leasing, the EBRD said today.

The funding will help SMEs in Serbia to invest in upgrading equipment and production processes to EU standards, in particular for product quality and safety, environmental protection, workers' health and safety, the Bank noted.

"Our new financial package will build more competitive companies, bring higher quality products to the local market and open up new cross-border trade opportunities for local SMEs," said Zsuzsanna Hargitai, EBRD Director for the Western Balkans.

The new credit line "will make Serbian businesses more resilient and more competitive in regional and global markets," said the Head of the EU Delegation to Serbia, Sem Fabrizi.

The EBRD has invested more than 6 billion euro across 267 projects in Serbia so far. (ANSA).