April 14 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it is extending two loans totalling 25 million euro ($27.3 million) to ProCredit Bank Kosovo (PCBK), part of German ProCredit Holding, in support of small and medium-sized enterprises (SMEs).
The first 20 million euro loan would be used for investments in better-performing green technologies and to improve working standards and processes, in line with EU and other international quality standards, the EBRD said in a press release.
Under this programme funding, the SMEs will also benefit from grants worth up to 15% of the loan amount, provided by Norway, Luxembourg and the U.S., and other potential donors. Around 70% of the funding will be allocated to investments in energy-saving and green technologies, while the remainder will support investments in automation, increased productivity, product quality and safety.
The EBRD is providing the remaining 5 million euro to PCBK under its Trade Facilitation Programme (TFP) with the aim of helping local SMEs to boost foreign trade and integrate into international markets. The facility will help to address the increase in demand for trade finance resulting from disruptions to the global supply chain caused by the Covid-19 pandemic, the EBRD said.
($ = 0.9165 euro)