ProCreditRomania

completed

The proposed project comprises a senior term loan in local currency to ProCredit Bank S.A. Romania (Procredit Bank or the Bank), for $15 million equivalent. The proposed IFC Loan will be used to fund the expansion of the loan portfolio of the Bank which is focused on micro, small and medium sized enterprises. Procredit Bank is a development-oriented full service bank, specialized in providing financing to micro, small and medium-sized enterprises (MSMEs) in Romania. The Bank was established in 2002 as part of a global network of ProCredit banks. It started operations in July 2002 following the acquisition of Microenterprise Credit Romania SRL which was renamed to Microfinance Bank MIRO S.A. and in 2004, changed to its present name. Procredit Bank was the first bank in Romania to specialize in serving MSMEs and to date, it is the only Bank that focuses primarily on lending to this target group. In addition to its lending activities, the Bank with 24 branches nationwide, offers a full range of banking services and products including domestic and international money transfers, international trade finance, debit cards and foreign exchange transactions.