Original disclosure @ EBRD website
Updated in EWS Dec 9, 2022
Disclosed by Bank Nov 26, 2021
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The provision of a senior unsecured loan to Intesa Leasing d.o.o. Beograd (ILS) in the amount of up to EUR5 million for on-lending to local small and medium-sized enterprises (SMEs) in Serbia through the SME Competitiveness Support Programme (SME-CSP) under the Financial Intermediary Framework (FIF).
The Loan will support investments in micro, small and medium-sized enterprises in Serbia that will assist in improving competitiveness and compliance with technical and environmental standards in line with the EU directives. Up to 60 per cent of the loan proceeds are expected to be utilised for GET eligible investments.
ETI score: 60
The project contributes to the objectives of the Regional SME-CSP, supporting the Competitive and Resilient TI qualities.
Competitive: The project will contribute towards: (i) supporting SMEs in accessing finance towards EU standards investments; and (ii) assisting SMEs to access advice and know-how for introducing and implementing EU standards and becoming competitive.
INTESA LEASING DOO
Intesa Leasing d.o.o. is part of the Intesa Group and is one of the largest leasing companies in Serbia with EUR167 million in assets and EUR12 million in equity at the end of the first half of 2021. Intesa Leasing specialises in the financing of machinery, equipment and vehicles.
EBRD FINANCE SUMMARY
EUR5 million financed by EBRD.
TOTAL PROJECT COST
The total project cost is EUR5 million.
The EBRD loan will provide financing and technical cooperation which will help to address issues of limited availability of medium-term financing in order for SMEs to introduce standards in line with EU directives and increase the awareness and knowledge of SMEs about the benefits of compliance with EU standards.
ENVIRONMENTAL AND SOCIAL SUMMARY
Categorised FI (2019 ESP). Intesa Leasing is an existing client of the Bank and has been satisfactorily reporting on the implementation of the EBRD's E&S Risk Management Procedures and on its compliance with PRs 2, 4 and 9. The existing portfolio includes industry sectors which are deemed to be medium-high E&S risk and the client has an environmental management system in place to assess and monitor these risks. Intesa Leasing will be required to continue to comply with the PRs and the E&S Risk Management procedures for Leasing Activities, including adherence to the expanded the EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the Performance Requirements.
TECHNICAL COOPERATION AND GRANT FINANCING
The Loan will to benefit from the Technical Assistance package implemented under the SME-CSP Programme.
+381 11 2025 416
INTESA LEASING doo Beograd Cara Urosa 54 Belgrade, Serbia
ACCESS TO INFORMATION
You can request information by emailing: email@example.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: firstname.lastname@example.org 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