InvestEU GUPG - BNP Paribas Polska (EBRD-55543)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
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
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
Nov 6, 2024
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
BNP Paribas Bank Polska S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 87.84 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 80
Converted using 2024-10-04 exchange rate.
Project Cost (USD)
$ 109.81 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 100
Converted using 2024-10-04 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 10, 2024

Disclosed by Bank Oct 4, 2024

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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.

As stated by the EBRD, the project consists of an uncapped unfunded portfolio risk sharing facility in the amount of up to EUR 80 million, to be provided by the EBRD as an InvestEU implementing partner to BNP Paribas Bank Polska S.A., as an eligible partner financial intermediary in Poland under the InvestEU Green Uncapped Portfolio Guarantee Framework. The guarantee will cover a newly generated portfolio of loans financing eligible green projects related to residential buildings. The Project benefits from partial first loss risk cover from the European Union under the InvestEU Fund.

The Project aims to address high energy consumption in residential buildings in Poland and is expected to contribute to increased sustainable energy investments, leading to energy savings and a reduction of carbon emissions.

The proposed operation will be supported by Technical Cooperation ("TC"), structured and managed by the Bank and funded under the InvestEU Advisory Hub.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The EBRD categorized the project risks as FI.

According to the project disclosure, BNPP PL is an existing client of the Bank and will continue to comply with the EBRD's Performance Requirements 2, 4, and 9. BNPP PL has an Environmental and Social Management System (ESMS), including an E&S Policy and other E&S Procedures. It will be required to nominate an E&S manager and report on E&S matters to its stakeholders to further comply with PR9. Sub-borrowers financed through guaranteed BNPP PL loans will be required to comply with national environmental, health, safety, and labor (EHSL) requirements. For potential renewable energy projects financed by loans guaranteed by EBRD, BNPP PL will need to follow the E&S Eligibility Criteria for such projects, as well as 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach. BNPP PL will continue to apply the E&S Exclusion List and refer to EBRD on any operation part of the FI referral list and list of A projects under the ESP 2019.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a 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
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, BNP Paribas Bank Polska S.A. is the 6th largest bank in Poland, with ~EUR 37 billion of total assets as of the end of June 2024. BNPP PL operates as a universal bank. As of the end of June 2024, BNPP PL operated in Poland through a network of approx. 365 branches with 4.1 million retail clients, 12.2 thousand corporate, and 23.1 thousand SMEs. BNPP PL is a systemic bank in Poland. Fitch rates BNPP PL with a long-term deposit rating of A+ and stable outlook.

BNP Paribas Group directly and indirectly owns 81.28% of BNPP PL's shares, which are listed on the Warsaw Stock Exchange.


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.

Financial Intermediary - BNP Paribas Bank Polska S.A.:

Adam Hirny
Email: adam.hirny@bnpparibas.pl
Phone: +48 22 566 94 85
Website: www.bnpparibas.pl
Address: Kasprzaka St' 2 00-844 Warsaw Poland

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

How it works

How it works