Proparco grants a loan of 50 million euros to ProCredit Bank Serbia for the financing of SMEs
BELGRADE (Serbia), Aug 2 (SeeNews) – French financial institution Proparco has signed a € 50 million ($ 59.4 million) credit facility with ProCredit Bank Serbia to secure financing for small and medium-sized businesses (SMEs) and green projects, he said. Monday.
The credit facility will contribute to private sector development and serve to promote sustainable economic development and environmental protection in Serbia, Proparco, owned by the French Development Agency and private shareholders, said in a statement.
“This new project initiated with Proparco is of great importance for our current and future customers. These loans will strengthen the SME sector and make energy efficiency solutions available to businesses and the local population, ”said the CEO. of ProCredit Bank Serbia, Igor Anic, noted.
For Proparco, the credit facility is its first operation in the banking sector in Serbia, said the French financial institution.
“Through this intervention with ProCredit Serbia, we are supporting an actor who has developed a strong expertise on development issues related to 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 ”, declared Gregory Clemente, CEO of Proparco, in the press release.
ProCredit Bank finances some 4,000 SMEs in Serbia, with an average loan of 242,000 euros. Since 2010, ProCredit Group has developed a green financing methodology that benefits from institutional support both internally and at subsidiary level.
($ = 0.84107 euro)