FIF - Regional SME CSP - OTPL Serbia (EBRD-52833)

Countries
  • Serbia
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
Sep 28, 2021
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
OTP LEASING SRBIJA DOO
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)
$ 11.69 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 EUR 10 million
Converted using 2021-09-28 exchange rate.
Project Cost (USD)
$ 11.69 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 EUR 10 million
Converted using 2021-09-28 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 30, 2021

Disclosed by Bank Sep 30, 2021


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the Bank's website, the project provides funding to OTP Leasing Serbia to finance loans to small- and medium-sized enterprises to upgrade production facilities and comply with EU Directives in environmental protection, workers' and product safety and product quality.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

OTP Leasing is one of the leading leasing companies in Serbia and a fully-owned subsidiary of OTP Bank Serbia (which in turn is fully-owned by OTP Bank Nyrt Hungary). OTP Leasing provides financial leases for a full suite of assets ranging from freight vehicles, minibuses and buses to passenger vehicles, construction machines and agricultural equipment. The company operates via two branch offices in Serbia with 58 employees and has active local and international partnerships with vendors and agents in all business areas.


Contact Information

PROJECT CONTACT INFORMATION

Nadja Kostic
nadja.kostic@otpsrbija.rs
381 11 222 1361
www.otpleasingsrbija.rs
Bulevar Zorana Djindjica 50a/b, Novi Beograd, Srbija

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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