| Project Detail |
Project Description
This project was approved in the context of the Banks response to the COVID-19 pandemic. To avoid delays to the delivery of this project, the Banks President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Banks response to COVID-19, and this deviation, can be found on our website.
Provision of a senior unsecured loan to Procredit Bank Serbia ("PCBS") of up to EUR 10 million, under the Banks 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. |
