IFC granted loan of 20 million euros to ProCredit Bank

The International Finance Corporation (IFC), a member of the World Bank Group, on June 23 said it would provide a €20 million loan to ProCredit Bank Belgrade, which would enable the bank to extend loans to small and medium enterprises in Serbia.

- We are pleased to consolidate our strategic partnership with IFC with this transaction - said Svetlana Tolmacheva, Chairperson of the Executive Board of ProCredit Bank Belgrade.

- With IFC’s loan, we can increase our support to small and medium enterprises, confirming our traditional commitment to them - she pointed out.

It is written in the statement that Serbia’s small and medium enterprise sector is the key generator of employment in the country and that that sector was severely hit by the global financial crisis and is experiencing problems in securing fresh financing.

- ProCredit Bank is one of our main partners in Serbia in scaling up financing for smaller businesses - said Giovanni Daniele, IFC Resident Representative in Serbia.

Since the establishment of ProCredit Bank Belgrade in 2001, IFC has extended four loans in the amount of €26 million to the bank, helping support the small and medium enterprise sector and energy efficiency in Serbia.

In 2008, IFC also provided a €10 million loan to ProCredit Leasing Belgrade, enabling the extension of leasing finance to the agricultural sector and smaller enterprises in the country.

ProCredit Bank a.d. Beograd

IFC

Procredit leasing Beograd

ProCredit Bank

International Finance Corporation

Giovanni Daniele

ProCredit Leasing

Svetlana Tomić