FIF - Procredit Bank Serbia - SME II

Location:

Serbia

Project number:

49920

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

26 Apr 2018

Status:

Disbursing

PSD disclosed:

26 Mar 2018

Translated version of this PSD: Serbian

Project Description

The provision of long-term debt financing to ProCredit Bank AD Belgrade for on-lending to small agricultural producers and small and medium enterprises (SMEs) in Serbia.

Project Objectives

Contribution to the expansion of lending to private businesses through working capital lines and investment loans to SMEs, including enterprises operating in economically less developed regions of the country.

Transition Impact

The project improves availability of medium-term funding for SMEs, which are the main source of employment in the private sector and a major contributor to the economy. With its wide outreach, ProCredit Bank is well-positioned to provide much-needed financing to smaller regional businesses and to contribute to the development of SMEs in the country.

Client Information

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

EUR 30,000,000.00

Total Project Cost

EUR 30,000,000.00

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 Performance 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. ProCredit Bank will also be required to continue submitting the EBRD FI Sustainability Index on an annual basis. 

Technical Cooperation

None.

Company Contact Information

Tamara Cvijetic
ta.cvijetic@procreditbank.rs
+381 11 207 7815
www.procreditbank.rs
Milutina Milankovica 17 Belgrade

Business opportunities

For business opportunities or procurement, contact the client company.

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