ProCredit Bank: 10 million EUR for small and medium enterprises and independent entrepreneurs
ProCredit Bank signed a 10 million EUR credit line contract alongside with the Council of Europe Development Bank (CEB), financing and investing on small and medium enterprises and independent entrepreneurs in Bosnia and Herzegovina.
Thanks to ProCredit Bank, finance and investment funds for small and medium enterprises and independent entrepreneurs in Bosnia and Herzegovina are available through the CEB funds.
A total number of 10 million EUR will be available for a seamless business continuation, modernization of production lines, capacity increase and related activities. The local economy undoubtedly is exposed to many challenges, but there are some areas of business that are affected less, and that continues with investments, assuming that the economy and their business will be back to normal anytime soon.
Namely, we are talking about part-financing projects for productive investments in local small and medium enterprises, to keep the existing posts, but also open new permanent and seasonal posts, which is possible only by supporting end-users of loan facilities in the entire Bosnia and Herzegovina.
Amir Salkanović, the Chairman of the board, said that this bank, which is recognized as an institution extremely dedicated to entrepreneurs, small and medium enterprises, directly communicates with its clients, to define clients' needs and solve business challenges in the resulting situation together with them.
„ Alongside with our clients, we tend to find adequate financial reliefs, moratoriums or other measures that are necessary due to somewhat difficult business following the COVID-19 pandemic. Generally, we are a bank with 100 % German capital, and not only do we inherit this German capital, but we also inherit the German system of problem solving, as well as the commitment to each client and their needs. That is one of the reasons why we signed a contract on this credit line with CEB” - concludes Salkanović. He emphasizes that small and medium enterprises are the mother lode of the economy, which create new jobs and contribute to economies in which they operate.
Furthermore, Salkanović emphasizes that ProCredit Bank employees examine and evaluate the needs for additional investment funding of the aforementioned credit line daily. They do that in the same way as they examine and evaluate reliefs on loan indebtedness for business and private clients.
The collaboration between CEB and ProCredit Bank, as a financial intermediary, is important for access to long-term funds, the inability to lend funds for working capital and investments. This collaboration directly affects the economy in Bosnia and Herzegovina, because it enables the sustainability of the small and medium enterprise, that is, protects business and workplaces, which are the key carriers of the local economy.