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EFSE provides EUR 15 million loan to ProCredit Bank Serbia

The European Fund for Southeast Europe (EFSE) has provided another loan to the value of EUR 15 million to ProCredit Bank Serbia, enabling the bank to expand its lending activities to very small and small enterprises.

To date, EFSE has provided EUR 50 million worth of funding to ProCredit Bank Serbia. The new loan will strengthen the existing relationship between EFSE and ProCredit Bank Serbia.

ProCredit Bank is a medium-sized bank in Serbia which has gained strong expertise in small and medium enterprise (SME) and agricultural sector lending. The Bank invested over EUR 2.4 billion into the Serbian economy since the beginning of its operations in 2001. It is the leading provider of financial services for very small, small and medium-sized companies.

"Our cooperation with EFSE so far has had a significant impact on the development particularly of our smaller enterprise clients. This loan will certainly further increase our capacity to support the smaller business sector. It is also another international validation of our development orientation, expertise in SME support and stability," said Borislav Kostadinov, Chairman of the Supervisory Board of ProCredit Bank Serbia.






About the European Fund for Southeast Europe (EFSE)



About ProCredit Bank Serbia



For further information about ProCredit Bank Serbia, please visit: www.procreditbank.rs
Media contacts
EFSE

Samir Djiki?
Tel: +49 (0)69 9778 7650-26
E-mail: press@efse.lu
ProCredit Bank Serbia
Ivan Arandjelovi?, PR Senior Specialist
Tel: +381 11 331 55 51
E-mail: i.arandjelovic@procreditbank.rs

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