ProCredit Bank Serbia - Senior Loan

complete

Translated version of this PSD: Serbian EBRD is considering a senior loan of up to €30 million to ProCredit Bank Serbia (PCBS) for on-lending to micro, small and medium enterprises (MSMEs) in Serbia. The project would increase the availability of medium-term funding for Serbian MSMEs, which are the main source of private sector employment and major contributors to the country’s economy. With its outreach to the rural areas, PCBS is uniquely placed to provide much needed financing to the smallest regional businesses and to contribute to the development of the MSME lending in the country. ProCredit Bank Serbia (“PCBS”) is a leading microfinance bank in Serbia operating through 61 branches and ranking 14th (out of 33 banks) by total assets, with a 2.4% market share. It is owned by ProCredit Holding (83.33%) and Commerzbank (16.67%). Senior loan of up to €30 million. Up to €30 million. Categorised FI. PCBS will be required to comply with the EBRD’s Performance Requirements for FIs (specifically, PR2 and 9) and implement sub-projects in accordance with the Bank’s Environmental procedures for Small and Micro Loans. PCBS will also be required to submit annual environmental and social reports to the EBRD. None. Jelena Grbic, ProCredit Bank a.d, Serbia Telephone: +381 11 2077612 Email: j.grbic@procreditbank.rs