Poland Reff - Euro Bank S.A. (EBRD-48601)

Countries
  • Poland
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
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 3, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
EURO BANK SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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, etc.
Investment Amount (USD)
$ 34.19 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported PLN 125 million
Converted using 2017-11-03 exchange rate.
Loan Amount (USD)
$ 34.19 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 125 million
Converted using 2017-11-03 exchange rate.
Project Cost (USD)
$ 145.09 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported PLN 125 million
Converted using 2017-11-03 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2018

Disclosed by Bank Apr 4, 2017


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Project Description

According to EBRD website, the loan will be complemented by a comprehensive Technical Cooperation support package. Euro Bank S.A. will onlend the EBRD funds on market terms to customers to finance eligible energy and resource saving projects in residential buildings in Poland. It intends at at tackling the high energy and water consumption in the Polish residential sector and expected to contribute to the following objectives: (i) enhance the competitiveness of commercial financing for energy and resource saving investments in the residential sector; (ii) improve living standards of households; (iii) lower carbon emissions; (iv) develop market-based loan instruments that target the above objectives.

Further, the transition impact will come from the demonstration of financial viability of energy and resource efficiency financing. This in turn is expected to contribute to the growth of the market for sustainable energy and resource financing in Poland.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Marcin Karlowicz
Email Address: marcin.karlowicz@eurobank.pl
Telephone No.: +48 71 795 58 96
Website: www.eurobank.pl
Wroclaw 50-126, 72 Sw. Mikolaja Street

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

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.