Small Serbian business receive €60 million boost from EBRD

Small and medium-size businesses in Serbia have received a welcome boost from the European Bank for Reconstruction and Development (EBRD) as they have decided to send a €60 million loan to ProCredit Bank Serbia, a long term partner of the EBRD. At a time when small and medium size enterprises (SMEs) are vital to lead the Serbian economic recovery, this loan will help to support the business and allow them to grow.  The main aim of the loan is to make long-term finance easily available for all SMEs across Serbia in the future.

SMEs can expect support through direct financing; however, the project goes beyond money as it plans to link the businesses with advisory services to improve the company as a whole and shows them how to operate effectively and efficiently.

Dan Berg, the director for EBRD in Serbia said “Small and medium-sized businesses are the driving forces of economic development in Serbia. We are pleased to be coming together with our long-standing partner ProCredit Bank to provide further support to the growth of this vital market segment.”

Svetlana Tolmacheva Dingarac, Chairperson of the executive board of ProCredit Bank Serbia said “Our long-term cooperation with the EBRD has been extremely fruitful. This credit line will certainly enable us to further improve our efforts in providing the SME sector with credit products designed to meet their specific needs.”

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