Green Economy Financing Facility for Leasing in Poland - BZ WBK Leasing (EBRD-48886)

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
Proposed
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
Apr 26, 2017
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 LEASING SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 53.00 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 50,000,000.00
Converted using 2017-03-31 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 31, 2017

Disclosed by Bank Mar 22, 2017


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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 involves a senior loan of up to EUR50 million to BZ WBK Leasing S.A. ("Project") under the GEFF Framework in Poland for Leasing ("Framework"). The proceeds will be used to provide leasing finance to small and medium-sized enterprises ("SMEs") in Poland. This will be the first project under the Framework. According to bank documents, BZ WBK Leasing S.A. will use the proceeds of the loan to finance energy and resource efficiency, renewable energy, water and waste management sub-projects, through private businesses, that stimulate green economy transition (i.e. GET investments), under the Framework. The eligible sub-projects will cover a broad spectrum of technologies and will be selected according to technical, financial and environmental eligibility criteria.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
BZ WBK Leasing S.A. is part of Bank Zachodni WBK Group and is the 5th largest leasing company in Poland with €1.6 billion in assets and €122 million in equity at 31 December 2016. BZ WBK Leasing specializes in the financing of machinery, equipment and vehicles.

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.
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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How it works