FIF - UniCredit Bank Serbia - SME loan (EBRD-50636)

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
Proposed
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.
Borrower
UNICREDIT BANK SERBIA JSC
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)
$ 73.55 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 EUR 65
Converted using 2019-03-25 exchange rate.
Loan Amount (USD)
$ 73.55 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 73.55 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 EUR 65 million
Converted using 2019-03-25 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 19, 2019

Disclosed by Bank Mar 25, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to EBRD website, the project will contribute to the expansion of lending to private businesses through working capital lines and investment loans to SMEs, including enterprises operating in economically less developed regions of the country. It aims to improve the aailability of medium-term funding for SMEs, which are the main source of employment in the private sector and a major contributor to the economy. As one of the largest bank's in Serbia with strong expertise in corporate lending, UCB is well-positioned to provide much-needed financing to smaller businesses and to contribute to the development of SMEs in the country. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
  • UNICREDIT BANK SERBIA JSC -- Financial Intermediary

With total assets of EUR 3.7 billion as at end-2018, UCB is one of the leading and largest universal banks in Serbia with strong foothold in corporate and consumer lending. It is one of the most profitable banks in Serbia with outstanding operating efficiency and strong branch network. UCB is 100% owned by UniCredit Spa, Italy.

Contact Information

Milan Davidovic
milan.davidovic@unicreditgroup.rs
+381113777853
www.unicreditbank.rs
Jurija Gagarina 12, Belgrade, Serbia

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.