BZ WBK Poland REFF (EBRD-48146)

Countries
  • Poland
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 24, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
BZ WBK
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
  • Technical Cooperation
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 82.66 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 75,000,000.00
Converted using 2016-02-24 exchange rate.
Project Cost (USD)
$ 82.66 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 75,000,000.00
Converted using 2016-02-24 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Jan 15, 2016


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
This project provides financing to the Polish bank BZ WBK, along with technical assistance, for on-lending to energy and resource saving projects in residential buildings. The project is aimed at tackling he high energy and water consumption in the Polish residential sector.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
BZ WBK is the third largest lender in Poland established through a merger between Bank Zachodni S.A. and Wielkopolski Bank Kredytowy S.A. in 2001. In April 2011, BZ WBK became part of the Santander Group. Banco Santander S.A. is the main shareholder of the Group and currently holds 69.4% shares. The Group has a well-established and developed network of retail branches and a strong position in the SME and corporate sectors, focusing on customers from large and small and medium-sized enterprises. The merger with Kredyt Bank (in 2013) significantly increased the Group's mortgage franchise, while the consolidation of Santander Consumer Bank (2014) also helped to expand the Group's presence in retail lending. As of 9M15 the Group had total assets of EUR 31.9 billion, total equity of EUR 4.7 billion and net profit of EUR 534.8 million. BZ WBK served 6.2 million customers and had a network of 752 branches as of 9M15.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Pawel Kolodzinski pawel.kolodzinski@bzwbk.pl 0048225341799 http://www.bzwbk.pl Bank Zachodni WBK S.A., 17 Jana Pawla II Avenue, 00-854 Warsaw, Poland ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD’s own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.

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