EUR 50 million for small and medium-sized enterprises and green projects in Serbia
French development institution Proparco has signed a new credit facility (EUR 50 million) with ProCredit Bank
ProCredit Bank and the French development institution Proparco have initiated a project that will secure funding for the SME sector and green projects. For Proparco, this senior credit facility is its first operation in the banking sector in Serbia.
Collaboration between these two institutions will contribute to the development of the private sector on the one hand, while on the other, it will serve to promote sustainable economic development and environmental protection in Serbia. Proparco chose to lend its support to ProCredit as a result of the bank’s competency in the area of development and extensive SME and green portfolio.
“Our bank is recognised market-wide as a leader in the SME segment offering a wide spectrum of financial services which meet all needs and provides advisory services in key investment planning. This new project initiated with Proparco is of great significance to our existing as well as future clients. These loans will allow for the strengthening of the SME sector and will make energy efficient solutions available options for businesses and the local population alike,” said Igor Anić, Chairman of the Executive Board at ProCredit Bank.
In Serbia, ProCredit Bank finances approximately 4,000 SME clients, with a lending average amounting to EUR 242,000. Furthermore, as of 2010, ProCredit Group has developed a ’green financing’ methodology which is institutionally supported both internally and at the subsidiary level.
"Through this intervention with ProCredit Serbia, we are supporting an actor that has developed strong expertise on development issues in line with Proparco's mandate. It is also an opportunity to strengthen our partnership with the ProCredit Group, whose DNA and practices are in line with our mandates. This is the first operation in the banking sector in Serbia for Proparco, where AFD Group recently opened a regional office, and I hope it will be the beginning of the deployment of other operations in favour of the Serbian private sector" said Grégory Clemente, CEO of Proparco.
Collaboration will contribute to the SDGs, specifically, SDGs8 (Decent Work and Economic Growth), SDGs 9 (Industry, Innovation and Infrastructure) and SDGs 13 (Climate Action).