ProCredit Bank and KfW concluded new agreements on credit lines worth 30 million euros

ProCredit Bank and German development bank KfW signed the agreements on October 1st in Belgrade on two new credit lines worth a total of 30 million euros. With that loan, ProCredit Bank will additionally strengthen the support to the improvement of energy efficiency in the operations of small and mid-sized enterprises and the life of a large number of households in Serbia.

The agreements on new credit arrangements were signed by Svetlana Tolmaceva, the Chairman of the Executive Board of ProCredit Bank, and Roland Siller, the first Vice-President of German development bank KfW, while the signing ceremony was also attended by Borislav Kostadinov, the Chairman of the Managing Board of ProCredit Bank, and Christoph Eichen, the first Secretary of the Embassy of Germany to Belgrade.

- The agreements we signed today represent an extension of the extremely successful cooperation that ProCredit Bank maintains with German development bank KfW for years. There will be two credit arrangements, the first of which concerns a 20 million euros worth of credit line that will be provided by the Government of FR Germany, while the other credit arrangement worth 10 million euros concerns a credit line from the EU funds. All these funds will be used by ProCredit Bank for further financing of the energy efficiency improvement in the operations of small and mid-sized enterprises and the life of households, which is one of the activities that make ProCredit Bank and ProCredit Leasing recognizable in Serbia - Kostadinov explained.

According to him, ProCredit Bank and ProCredit Leasing have so far, in association with German development bank KfW, already invested over 100 million euros in the SME sector development, a part of which was spent on the improvement of energy efficiency in companies and the promotion of use of renewable energy sources in their operations.

- The Government of FR Germany and German development bank KfW have been intensively supporting the development of Serbian financial sector for ten years now, and KfW is also one of the co-founders of ProCredit Bank in Serbia. We believe that the provision of a financial support to the projects aimed at the energy efficiency improvement and the use of renewable energy sources represents one of the key challenges for the sustainable development in Serbia. The significance of the support that banks provide to companies and citizens in that field is exceptional - Roland Siller pointed out and added that KfW was very pleased to continue and expand the successful cooperation with ProCredit Bank in that field in such way.

ProCredit Bank a.d. Beograd

KfW kancelarija Beograd

Ambasada SR Nemačke Beograd

Bundesregierung Deutschland

Procredit leasing Beograd

ProCredit Bank

Svetlana Tolmaceva

Roland Siller

Borislav Kostadinov

Christoph Eichen