New credit-guarantee scheme for the Serbian small and medium-sized enterprises

Local news, 19.12.2024

The Serbian Foundation for Entrepreneurship (SEF) and ProCredit Bank have signed a Partnership Agreement whereby ProCredit Bank joined the credit-guarantee scheme for selected manufacturing small and medium-sized enterprises in Serbia.

Signed Partnership Agreement between Serbian Foundation for Entrepreneurship and ProCredit Bank
Signed Partnership Agreement between Serbian Foundation for Entrepreneurship and ProCredit Bank ©SEF

This credit-guarantee scheme is one of the components of the SME Hub initiative. Supported by the Government of Switzerland, through the Swiss Agency for Development and Cooperation (SDC), the SME Hub project is worth CHF 8.2 million, while its total value is expected to be over CHF 13 million.

The manager of the Serbian Foundation for Entrepreneurship (SEF), Aleksandar Grabovac, thanked the Government of Switzerland for their contribution in the amount of CHF 2 million provided for this component of the SME Hub. He also expressed his satisfaction with the collaboration with the ProCredit Bank, who is their proven partner. Jointly, SEF and Procredit Bank continue to cooperate within this scheme providing domestic small and medium-sized enterprises with financial support in order to meet necessary standards in becoming suppliers of multinational companies.

ProCredit Bank, as a development-oriented bank with a focus on micro, small and medium-sized enterprises, recognizes the importance of supporting the manufacturing sector in Serbia. ‘By joining the credit-guarantee scheme in cooperation with SEF and the SME Hub project, we confirm our commitment to improving the competitiveness of domestic companies and their integration into global value chains. Through this cooperation, we continue providing targeted financial support and expertise, in order to enable sustainable growth and strengthening of our clients' businesses in accordance with European standards,' said Igor Anić, President of the Executive Board of ProCredit Bank.

The SME Hub is among the flagship projects of Swiss cooperation in Serbia. This public-private initiative was designed to support Serbian manufacturing SMEs in accessing financing and aligning with global standards. “In the next five years, our mission is to help 80 Serbian companies create stronger connections with global markets, creating more and better jobs and better working conditions for their employees. By signing this Swiss funded Partnership Agreement between SEF and Procredit, we strongly believe that we are one step closer to achieving this mission’ said Richard Kohli, Head of Cooperation, Embassy of Switzerland.