ProCredit Bank a.d. Beograd is a privately-owned bank that has been operating in Serbia since April 2001. The second largest subsidiary of ProCredit Group after Bulgaria, its central area of business is Belgrade and the dynamic agricultural regions in the north of the country, via a network of 16 branches and over 350 employees. With a market share of 4.1%, it is the 10th largest bank on the Serbian market. The bank mainly finances MSMEs and is the leader on the agricultural finance market.
Proparco has signed a EUR 50m credit line to ProCredit Bank a.d. Beograd which the bank will use to finance SMEs and green projects
The expected impacts of this project are:
- A contribution to the economic development of the country by financing some 500 SMEs mainly operating in the agriculture, manufacturing and trade sectors.
- Support for over 8,000 jobs over the next 5 years, mainly in the companies which may be financed through Proparco’s credit line. Women account for 70% of permanent jobs in the bank.
- The development of energy efficiency (EE), renewable energy (RE) and environmental protection projects in Serbia. The support for RE and EE is particularly relevant in the context of Serbia where power generation relies heavily on carbon (73% coal). ProCredit Group has also developed a green lending methodology, institutionally worked on and led internally and in its subsidiaries.
The project will thereby contribute to the achievement of SDG 8 (Decent work and economic growth), SDG 9 (Industry, innovation and infrastructure) and SDG 13 (Climate action).
This information is given at the time of signature, without prejudice to any developments in the operation/project
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News
SignatureEUR 50 million signed with ProCredit Bank for small and medium-sized enterprises and green projects in Serbia
Published on 30 July 2021 -
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