EBRD approves EUR 20 mln loan to Kosovo's Procredit Bank to back SMEs

Banking

The European Bank for Reconstruction and Development (EBRD) said it approved a EUR 20 million loan to ProCredit Bank Kosovo (PCBK), part of German ProCredit Holding, in support of small and medium-sized enterprises (SMEs).

PCBK will use the funding for on-lending to local SMEs for investments in high-performance technologies and services in order to introduce and implement EU and other international quality standards, the EBRD said in a project summary document on Monday.

At least 70% of the loans would go to investments that support the green economy transition, the EBRD added.

The loan will be provided under the Sustainable Reboot SME Program. 

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