WeBSEFF II - Procredit Bank Serbia (EBRD-49922)

Countries
  • Serbia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 25, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ProCredit Bank AD Belgrade
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 12.46 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 10
Converted using 2018-03-26 exchange rate.
Project Cost (USD)
$ 12.46 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 10
Converted using 2018-03-26 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 5, 2018

Disclosed by Bank Mar 26, 2018


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Project Description

This project provides financing to ProCredit Bank AD Belgrade for investments in energy efficiency and renewable energy projects in Serbia. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

ProCredit Bank is a medium-sized development-oriented commercial bank in Serbia specialised in lending to SMEs and agricultural clients. With total assets of EUR 811.1 million and equity totalling EUR 122.4 million, ProCredit Bank ranks as the 12th largest bank in Serbia as of December 2017.

ProCredit Bank is part of the ProCredit group, which is led by its Frankfurt-based parent company, ProCredit Holding AG & Co. KGaA. As the sole owner of ProCredit Bank, ProCredit Holding holds 100% of its shares.

Contact Information

Tamara Cvijetic
ta.cvijetic@procreditbank.rs
+381 11 207 7815
www.procreditbank.rs

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.