We talked to Hubert Spechtenhauser, Chairman of the Management Board of ProCredit Holding AG, about the dynamics happening in our countries of operation.
3 Questions & Answers
1. Hubert, in December 2024, the EU member states issued a joint declaration underlining the accession prospects of the countries of the Western Balkans.1 The German Committee on Eastern European Economic Relations has just called on the future German government to push ahead with the European integration of Ukraine, Moldova and the countries of the Western Balkans.2 What does this mean for the ProCredit group?
There is a new dynamic in the accession process. We welcome it. From the ProCredit group’s point of view, it should be the common goal of political and economic players to integrate both the Western Balkan countries and Eastern European countries such as Ukraine, Georgia and Moldova into the EU single market. They belong to the EU. Economically and geopolitically as well as culturally and humanly.
2. Why is it precisely these countries in which ProCredit is primarily active?
Hardly any other region has such rich economic, ecological and social potential and such close economic and societal ties to Germany and Europe. To illustrate this in terms of economic potential: Real GDP growth in the Western Balkans is 3.4% compared to 1.2% in the Eurozone.3
3. What role do micro, small and medium-sized enterprises (MSMEs) play?
In our daily work at ProCredit, we see that there is a strong and vibrant dynamic of these companies in the Balkan countries. That is why we focus on these segments in our corporate client business. They are key drivers of development, they invest, train, pay taxes, create jobs and ultimately stabilise societies to a certain extent.
We are aware of the importance of this dynamic, also for stability and democracy, and would like to contribute to it. ProCredit knows the requirements of the markets. We can support MSMEs within our framework with financial services tailored to their needs, with our banks in this region, and with know-how. In addition, MSMEs benefit from our cooperation with partners such as the European development banks and their programmes. As the ProCredit banking group, we want to promote economic, ecological and social development in the countries in which we operate. We are therefore very much in favour of the EU accession process moving forward and enabling further sustainable and social development in these countries.
1https://www.consilium.europa.eu/en/meetings/international-summit/2024/12/18/
2Mittel- und Osteuropa wird immer wichtiger für die deutsche Wirtschaft | Ost-Ausschuss der Deutschen Wirtschaft
3©IMF, 2024, for the median of real GDP growth 2024-2029 for the ProCredit-countries (except Ecuador und Germany)
