Bloomberg News

EBRD Eyes EU30 Million to ProCredit Bank Serbia for Small Firms

October 06, 2011

Oct. 6 (Bloomberg) -- The European Bank for Reconstruction and Development is considering a loan of as much as 30 million euros ($40 million) to ProCredit Bank Serbia to finance small business clients in the Balkan country, the lender said in a statement.

The aim of the transaction is to increase medium-term funding available for Serbian small- and medium-sized businesses, “who are the main source of private sector employment and major contributors to the country’s economy,” the EBRD said, citing ProCredit Bank’s “outreach to rural areas” as valuable in providing funding to small regional businesses.

ProCredit Bank Serbia is a mid-sized bank, owned by ProCredit Holding AG and Commerzbank, with a 2.4 percent market share. The EBRD will discuss the loan on Nov. 22.

--Editors: Douglas Lytle, James M. Gomez

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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