Two new guarantee schemes - aid to Serbian enterprises
Support for small and medium-sized enterprises and start-ups in collaboration with the SEF
ProCredit Bank and the Serbian Entrepreneurship Foundation (SEF) have signed an agreement for two guarantee schemes intended to support micro enterprises and SMEs hit by the COVID-19 pandemic, as well as start-ups.
The Two Guarantee Schemes Agreement will contribute to increasing and maintaining employment. It will also increase accessibility to adequate lending products for start-ups, micro enterprises, SMEs and registered agricultural holdings.
The guarantee schemes will allow for an expedient and simplified approach to lending funds for start-ups, as well as relaxed bank requirements in terms of loan collateral for clients that have been affected by the COVID-19 pandemic.
The Serbian Entrepreneurship Foundation (SEF) was founded as a non-profit, NGO foundation in 2019 by the German Development Bank (KfW) and the Serbian Chamber of Commerce. Some of the goals of the SEF include: improving and maintaining employment, improving the standard of living, improving access to adequate lending products, as well as contributing to sustainable development within the Republic of Serbia. The above mentioned guarantee schemes are part of the German collaboration programme in Serbia, implemented by the KfW (German Development Bank). The funding required for these guarantee schemes, funds that are provided in the form of grants, have been secured by the German Federal Ministry of Economic Cooperation and Development.
ProCredit Bank, part of the ProCredit Group, with its registered seat in Frankfurt, has been operating successfully in Serbia for over two decades and the Agreement signed with the SEF confirms ProCredit Bank’s willingness and desire to provide its clients with the best quality and best-fit services.
