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EBRD and ProCredit Bank support small businesses in Serbia

By Darryl Vandever 10 months ago
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    New EBRD €30 million credit rating line to ProCredit Financial institution in Serbia 
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    Funds for on-lending to small, neighborhood businesses
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    20 for every cent of the credit line to finance inexperienced investments
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The European Lender for Reconstruction and Growth (EBRD) is boosting little and medium-sized enterprises (SMEs) in Serbia with a €30 million mortgage to ProCredit Financial institution. 

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The financial loan will boost the availability of funding for SMEs and help their write-up-pandemic recovery, alongside with investments in new tools, facilities and functions. About 20 per cent of the credit rating line will go to investments that can make improvements to energy performance or investments in renewable power.

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SMEs account for the bulk of all enterprises registered in Serbia and are the motor of the country’s financial progress. Offering them with entry to finance is much more important than ever, in unique, to mitigate the financial effect of the coronavirus pandemic.

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The ProCredit Group, headquartered in Frankfurt, is a enhancement-oriented, international industrial financial institution, lively in many of the economies in which the EBRD invests. The EBRD has a extended historical past of cooperation with ProCredit Lender in Serbia. In modern a long time, the lender has focused on offering funding to raise SME resilience and competitiveness and to personal individuals to invest in power efficiency.

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Matteo Colangeli, EBRD Regional Director and Head of Serbia, reported: “We are delighted to be operating with ProCredit Bank as soon as yet again to support small and medium-sized firms in Serbia accessibility the finance they need to have to develop and develop into much more competitive. This is especially wanted pursuing the slowdown induced by the pandemic and amid ongoing disruptions to global trade, and we hope this fresh funding will support several companies to get better from it and boost their organization.”

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Igor Anić, Chairman of the Government Board of ProCredit Lender, explained: “Our strategic partnership with the EBRD makes it possible for us to offer continuous, common aid to SMEs, a sector we have invested in for two a long time now. This latest credit history line gives our SME consumers the opportunity to make improvements to their functions and enhance products, so that new machinery with electrical power-efficient technologies can be put in.”

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The EBRD is a main institutional trader in Serbia and has invested extra than €7.3 billion in the country to day. The Lender focuses on help for personal-sector progress, the improvement of general public utility expert services and the in general changeover to a inexperienced economic system.

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