This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Europejski Fundusz Leasingowy (EFL) (EBRD-40382)

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
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
May 6, 2009
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.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Apr 20, 2009


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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.
PROJECT DESCRIPTION The EBRD is considering to provide a loan of EUR 70 million to Europejski Fundusz Leasingowy (EFL) to enable EFL to expand its lease portfolio to micro, small and medium-sized enterprises (MSMEs) in Poland.Transition ImpactThe loan will support the development of MSMEs across the country. The companies require leasing financing, however financial resources available to support leasing activity to this segment remain constrained due to limited external funding.The EBRD facility will increase the availability of external funds to the leasing industry. This will significantly support the development of the sector within the Polish economy through the provision of much-needed finance.The ClientEFL is Poland's largest equipment and vehicles leasing company, serving MSMEs in Poland. The company is 99.9% owned by the French banking group Credit Agricole. In 2008 EFL recorded new business volume of PLN 3.7 billion (EUR 0.9 billion).EBRD FinanceEUR 70 million senior loan.Project CostEUR 70 million.Environmental ImpactEFL has implemented environmental requirements in context of two previous EBRD loans and has been providing annual reports to the Bank. These reports have been satisfactory to the Bank. EFL is required to comply with PRs 2 and 9, adhere to the requirements of the Bank's Environmental Exclusion and Referral List and provide the Bank with an annual report on environmental and social matters.Technical CooperationNone.Company ContactFor business opportunities or procurement, contact the client company:Europejski Fundusz Leasingowy SAPl. Orlat Lwowskich 153-605 Wroclaw, Poland TRANSITION IMPACT The loan will support the development of MSMEs across the country. The companies require leasing financing, however financial resources available to support leasing activity to this segment remain constrained due to limited external funding.The EBRD facility will increase the availability of external funds to the leasing industry. This will significantly support the development of the sector within the Polish economy through the provision of much-needed finance. THE CLIENT EFL is Poland's largest equipment and vehicles leasing company, serving MSMEs in Poland. The company is 99.9% owned by the French banking group Credit Agricole. In 2008 EFL recorded new business volume of PLN 3.7 billion (EUR 0.9 billion). EBRD FINANCE EUR 70 million senior loan. PROJECT COST EUR 70 million. ENVIRONMENTAL IMPACT EFL has implemented environmental requirements in context of two previous EBRD loans and has been providing annual reports to the Bank. These reports have been satisfactory to the Bank. EFL is required to comply with PRs 2 and 9, adhere to the requirements of the Bank's Environmental Exclusion and Referral List and provide the Bank with an annual report on environmental and social matters. TECHNICAL COOPERATION None. COMPANY CONTACT For business opportunities or procurement, contact the client company:Europejski Fundusz Leasingowy SAPl. Orlat Lwowskich 153-605 Wroclaw, Poland
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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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