FIF - Green Loan to ProCredit Holding AG & Co. KGa (EBRD-50613)

Countries
  • Romania
  • 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
Oct 20, 2020
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 HOLDING AG & CO KGAA
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 23.49 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 20
Converted using 2020-10-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2021

Disclosed by Bank Oct 14, 2020


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Project Description

The project is a  senior unsecured term loan to PCH for on-lending to eligible Sub-borrowers by ProCredit Serbia ("PC Serbia") and ProCredit Romania ("PC Romania"). The Borrower will undertake to ensure that the amount of this facility will be on-lent by PC Serbia and PC Romania to eligible sub-borrowers within a two-year period, in line with the eligibility criteria under PS. The financing will be aligned with the ProCredit Holding Green Bond framework as well as with the EBRD GET approach. The EBRD investment will support business development and SME lending in Serbia and Romania in line with the objectives of the Financial Intermediaries Framework ("FIF").

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Martin Godemann
Martin.Godemann@procredit-group.com
+ 49 (0)69 951 437 160
+ 49 (0)69 951 437 168

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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