EBRD mulls EUR 30mn loan to ProCredit Bank Serbia.

By bne IntelliNews October 6, 2011
The European Bank for Reconstruction and Development (EBRD) is considering a senior loan of up to EUR 30mn to ProCredit Bank Serbia for on-lending to very small, small and medium enterprises (SMEs), the lender said in a statement. The main rationale for the Bank's involvement in the transaction is to increase medium-term funding available for Serbian SMEs, who are the main source of private sector employment and major contributors to the country's economy, the statement read. According to the EBRD, because of its extensive network in Serbia's rural areas, ProCredit Bank is uniquely placed to provide financing to the small regional businesses. ProCredit Bank Serbia operates 61 branches and ranks 14th out of 33 banks in terms of total assets, with a 2.4% market share.

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