Translated version of this PSD: Serbian
The provision of long-term debt financing to ProCredit Bank AD Belgrade for financing energy efficiency and renewable energy projects in Serbia under the Western Balkans Sustainable Energy Financing Facility II (WeBSEFF II).
There is substantial potential for energy efficiency improvements and development of renewable energy projects in Serbia, as evidenced by the country's high energy intensity. The project combines long-term financing, technical cooperation and investment incentives for sub-borrowers into a comprehensive package designed for realising the potential for energy efficiency improvements.
The project contributes to improvements in energy efficiency and increase in the use of renewable energy in Serbia, where the sustainable energy gap remains high. Its implementation is expected to generate demonstration effect of improved energy efficiency by establishing the benefits of energy conservation to a wide range of sub-borrowers.
PROCREDIT BANK AD BELGRADE
ProCredit Bank is a medium-sized development-oriented commercial bank in Serbia specialised in lending to SMEs and agricultural clients. With total assets of EUR 811.1 million and equity totalling EUR 122.4 million, ProCredit Bank ranks as the 12th largest bank in Serbia as of December 2017.
ProCredit Bank is part of the ProCredit group, which is led by its Frankfurt-based parent company, ProCredit Holding AG & Co. KGaA. As the sole owner of ProCredit Bank, ProCredit Holding holds 100% of its shares.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (ESP 2014): ProCredit Bank is an existing client of the EBRD. An independent monitoring visit confirmed that ProCredit Bank has in place the necessary environmental and social (E&S) policies, procedures and risk assessment tools in line with the EBRD's E&S requirements.
ProCredit Bank will be required to continue to comply with Performace Requirements 2, 4 and 9 and implement sub-projects in accordance with the EBRD's Environmental and Social Procedures for Corporate Loans, SME and Micro Loans and apply the EBRD's eligibility criteria for renewable energy and energy efficiency investments to sub-projects in accordance with the WeBSEFF II Policy
Statement. ProCredit Bank will also be required to continue submitting the EBRD FI Sustainability Index on an annual basis.
The project will be supported by a comprehensive technical assistance to ProCredit Bank and subborrowers to facilitate the project preparation and successful implementation of the WeBSEFF II. The technical assistance is funded by the European Union and the EBRD Shareholders' Special Fund.
Company Contact Information
+381 11 207 7815
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