RF - ProCredit Bank Serbia (EBRD-52113)

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
May 19, 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 Bank Serbia ("PCBS")
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)
$ 12.07 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 2021-01-18 exchange rate.
Project Cost (USD)
$ 12.07 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 2021-01-18 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 18, 2021

Disclosed by Bank May 26, 2020


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Project Description

Provision of a senior unsecured loan to Procredit Bank Serbia ("PCBS") of up to EUR 10 million, under the Bank's Resilience Framework ("RF") developed to address the economic impact of the Covid-19 pandemic. Proceeds of the proposed loan will be on-lent to eligible sub-borrowers in accordance with the RF Policy Statement, to cover liquidity needs that may arise as a result of Covid-19. Local private small and medium-sized enterprises ("SMEs") are expected to be the key beneficieries given PCBS' focus on the SME sector.

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

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.