EFSE lends 2.5 mln euro to Bosnia’s ProCredit Bank to back small cos

The EFSE’s credit facility will further strengthen ProCredit Bank’s financial capacities and facilitate continuous credit access to very small and small enterprises, the EFSE said in a statement on its website.

In the past 10 years, ProCredit Bank d.d Sarajevo, a part of international banking group ProCredit has disbursed some 64,890 loans to very small, small and medium-sized enterprises of over 427 million euro in total.

The EFSE is initiated by German development bank KfW with the financial support of the German federal ministry for economic cooperation and development and the European Commission.

Since it began operations in Bosnia and Herzegovina in 2005, the EFSE has invested 265 million euro in development finance for very small and small enterprises and private households through 18 partner lending institutions.

($=0.7512 euro)