Harrisons has advised the EBRD on a EUR 30 million loan facility to ProCredit Bank in Serbia.
According to Harrisons, "the loan will improve the availability of funding for small and medium enterprises and support their post-pandemic recovery, along with investments in new equipment, facilities, and operations. Around 20% of the credit line will go to investments that can improve energy efficiency or investments in renewable energy."
"Small and medium enterprises account for the bulk of all enterprises registered in Serbia and are the engine of the country’s economic growth," the firm informed. "Providing them with access to finance is more important than ever, in particular, to mitigate the economic impact of the coronavirus pandemic."
ProCredit Bank is a commercial bank operating in Serbia since 2001.
The Harrisons team was led by Consultant Ines Matijevic-Papulin and included Associate Mina Markovic.