Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

02 Nov 2004



PSD disclosed:

16 Jun 2004

Project Description

Participation in a capital increase in ProCredit Bank Serbia from currently US$ 12 million (€ 10 million) to € 20 million necessitated by a combination of fulfilling minimum capital requirements in the short-term (first tranche for € 6 million) and supporting the dynamic business development of ProCredit Bank Serbia in the medium-term (second tranche for € 4 million).  
Additionally, a loan of € 10 million is to be provided to ProCredit Bank Serbia for on-lending to micro and small enterprises (MSEs).

Transition Impact

The project is expected to have a significant impact on the transition process. ProCredit Bank Serbia will provide continuous support to micro and small enterprises, including those in the agricultural sector which would otherwise have little or no access to formal sector finance.
ProCredit Bank Serbia will also support the development of the financial sector by operating as a best practice institution committed to the principles of complete transparency and strong corporate governance. The capital increase will also support the expansion of MSE lending activities to rural and remote areas.

The Client

ProCredit Bank Serbia (Formerly Microfinance Bank of the Republic of Yugoslavia - MFB) was established in April 2001 to provide financial services to micro and small enterprises.
The founding shareholders are
  • EBRD (16.7%)
  • Commerzbank AG (16.7%)
  • ProCredit Holding AG (formerly Internationale Micro Investitionen - IMI AG) (53%)
ProCredit Bank Serbia has at present 35 branches and outlets in 21 cities. Further branch expansion is expected in 2006.

EBRD Finance

Equity investment of € 1.6 million in two tranches (€ 1 million and € 0.6 million).  Loan of € 10 million in two tranches.

Project Cost

€ 50 million (€ 10 million equity, € 40 million debt)

Environmental Impact

ProCredit Bank Serbia will continue to carry out its operations in accordance with the EBRD's Environmental Procedures for Small and Micro Loans.  In implementing these procedures, it will require its borrowers to comply, with national health, safety, environmental, and public consultation requirements.

Technical Cooperation


Company Contact

ProCredit Bank Serbia - Head Office Belgrade
Bulevar despota Stefana 68c
Tel. +381 11 20 77 906
Fax +381 11 20 77 905

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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