FIF - Regional SME CSP - Procredit II (EBRD-52526)

Countries
  • Macedonia
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
Dec 8, 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 AD
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)
$ 3.03 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 2.5
Converted using 2020-12-08 exchange rate.
Loan Amount (USD)
$ 3.03 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)
$ 3.03 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 12, 2020

Disclosed by Bank Dec 9, 2020


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Project Description

According to EBRD website, the project will support investments in SMEs to upgrade production facilities and comply with EU Directives in environmental protection, workers' safety and product quality and safety. The investments will be selected based on the technical and financial eligibility criteria set forth in the Policy Statement. Support to the SMEs is tailored as a combination of access to finance with TC and non-TC assistance. At least 60% of the use of proceeds will be related to Green Economy Transition (GET) investments. 

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

Founded in 2003, Procredit Bank Macedonia (the "company" or "PCBM") is the 6th largest bank on the Macedonian market with assets of EUR 498m and a market share of 5.5% by total assets, 7.1% by net loans and 5.0% by customer deposits (2020Q2). The company is headquartered in Skopje and services the entire territory of North Macedonia through a small network of branches and service centres.

Contact Information

TANJA KOSTOSKA
tanja.kostoska@procredit-group.com
+389 02 3219 574
www.pcb.mk
ul. Manapo 7, 1000 Skopje, N.Macedonia

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