June 10 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday that it is providing a loan worth 30 million euro ($31.8 million) to ProCredit Bank Serbia to support local small and medium-sized enterprises (SMEs).
The funds will ensure that Serbian small businesses have access to sufficient financing to aid their post-pandemic recovery as well as to upgrade their equipment, facilities and operations, the EBRD said in a statement.
At least 20% of the new credit line will be deployed for green investments.
The EBRD has supported ProCredit Bank in Serbia for a number of years, more recently focusing on making funding available to SMEs to grow resilience and competitiveness and to private individuals to invest in energy efficiency.
($ = 0.9440 euro)