| Project Detail |
Location: Regional Project number: 54191 Business sector: Financial institutions Notice type: Private Environmental category: FI Approval date: 10 Mar 2023 Status: Approved PSD disclosed: 17 Mar 2023 The project concerns a follow-on equity investment in which EBRD will acquire an additional 5 per cent stake in ProCredit Holding AG & Co. KGaA. Added to the initial 3.6 per cent subscription made in 2018, this will bring the EBRDs stake to 8.7 per cent. As part of the transaction, the EBRD will also acquire a 9.9 per cent stake in the management company, ProCredit General Partner AG. The EBRD will become a core shareholder of the ProCredit Group alongside Zeitinger Invest, KfW, Doen Participaties and ProCredit Staff Invest. The stakes in each entity will be acquired in a private bilateral transaction from the International Finance Corporation (IFC). The completion of transaction is subject to regulatory approvals where applicable. Project Objectives The investment will support ProCredit Holding in its transformation to an open joint stock company while preserving its impact orientation, as announced by ProCredit Holding in October 2022. Furthermore, the EBRD will support the Groups business strategy, governance, and collaborate with ProCredit on furthering its climate mitigation practices and aligning its business and financial flows with the goals of the Paris Agreement. |
