WCS COVID ProCredit Holding

completed

 The Project consists of a senior loan of up to US$100 million to ProCredit Holding (“PCH” or “ProCredit”) for a tenor of one-year, renewable for an additional one-year. The loan to PCH would be under World Bank Group Fast Track COVID-19 Facility, in particular IFC’s Financial Institutions Response Envelope.The Project would provide funding to PCH to be channeled to some of its banking subsidiaries in emerging markets that will then extend new trade-related or working capital loans to small and medium enterprises (“SMEs”) whose cash flows have been disrupted by the global outbreak of the coronavirus pandemic. Many SMEs in developing countries are experiencing strained cash flows, lower profit margins and balance sheet constraint, and are in need of working capital liquidity as short-term bridge financing.