FIF - Procredit Bank AD Belgrade - SME IV



Project number:


Business sector:

Financial institutions

Notice type:


Approval date:

04 May 2022



PSD disclosed:

29 Mar 2022

Project Description

Provision of a long-term senior unsecured loan to ProCredit Bank AD Belgrade for on-lending to small and medium-sized enterprises ("SMEs") in Serbia. The loan is extended under the EBRD Financial Intermediaries Framework ("FIF").

Project Objectives

The loan is intended to facilitate the expansion of lending to private businesses through working capital lines and investment loans, including to enterprises operating in economically less developed regions of the country. The bank will aim to allocate up to 20% of the proceeds to GET-eligible projects which are expected to come from investments in renewable energy and energy efficient projects.

Transition Impact

ETI score: 60

The project supports the Competitive and Resilient transition qualities.

FIF seeks to foster SME competitiveness by increasing availability of financing and enabling innovation in strategy, products, processes and marketing related to SME lending. By ensuring that banks have adequate underwriting and risk management practices in place, the FIF also seeks to encourage sustainable lending practices, supporting the resilience of the financial system.


Client Information


ProCredit Bank AD Belgrade is a medium-sized development-oriented commercial bank in Serbia specialised in lending to SMEs and agricultural clients. With total assets of over EUR 1.3 billion, it ranks as the 12th and 10th largest bank in Serbia by total assets and net loans, respectively as of 3Q2021. ProCredit Bank AD Belgrade 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

EUR 30,000,000.00

Total Project Cost

EUR 30,000,000.00


Financing Structure - EBRD offers a tenor, which is above the market average and is necessary to structure the project.

Standard-setting: helping projects and clients achieve higher standards - Client seeks/makes use of EBRD expertise on higher financial standards, including through financial covenants.

Environmental and Social Summary

Categorised FI (ESP 2019). ProCredit Bank AD Belgrade is an existing client and has provided satisfactory annual E&S Reports to the Bank to date. It is required to continue to comply with Performance Requirements 2, 4 & 9, implement the EBRD's E&S Risk Management Procedures for Corporate, SME and Micro Loans including adherence to the EBRD E&S Exclusion List and submit annual E&S reports to the Bank. Sub-borrowers financed through PCBS's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.

Company Contact Information

Aleksandra Vrzic
011 2077859
Centrala, Beograd Milutina Milankovica 17

PSD last updated

29 Mar 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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