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.
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