The development of the private sector is linked to a number of policy areas including enterprise policy, public administration reform and infrastructure development. The importance of economic governance and structural reforms to provide greater investor confidence has been emphasised by the European Commission on numerous occasions and includes issues such as competitiveness, small and medium-sized enterprises (SMEs) policy and financing, human capital development and research and innovation.
The Western Balkans Enterprise Development & Innovation Facility (WB EDIF) is an EU-funded initiative aimed at improving access to finance for SMEs in the Western Balkans, helping to develop the local economy as well as the regional Venture Capital markets. It promotes policy reforms to support access to finance through financial engineering instruments.
WB EDIF is the first regional initiative in the private sector development area channeled through the Western Balkans Investment Framework. Approximately EUR 275 million of capital pulled together under this Facility by the European Commission, Financial Institutions, governments of beneficiary economies and bilateral donors will translate into over EUR 715 million of financing available for SMEs in the region.