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According to IFC website, the project consists of a RON 200 million (approximately USD 50 million) loan package to BCR Leasing. The package is to support provision by BCR Leasing (BCRL) of finance leasing to its core Small and Medium Enterprise (SMEs) clientele, primarily of vehicles and moveable equipment.
The main objectives of the project are to:
1. Help utilize a proven financial product that would respond to the critical term funding gap for SMEs in Romania
2. Alleviate the difficulty of SMEs in accessing bank financing by using asset-secured lease finance
3. Introduce competition in the financial sector and promote growth and generate employment.
Specifically, the facility is aimed to (i) Address the critical shortage of term funding for SMEs in Romania; (ii) Help deepen financial markets, boosting RON-denominated leasing and mitigating foreign exchange risks; and, (iii) Generate employment through resultant growth of SMEs and investment in productive assets.
BCR, a member of Erste Group, provides universal banking operations (retail, corporate & investment banking, treasury and capital markets), and covers specialty companies working on the leasing market, private pensions and housing finance. BCR is Romania's largest bank in terms of assets (over EUR 15 billion), client base and lending.
Erste Group Bank AG ("Erste") was founded in 1819 as the first Austrian savings bank. Around 46,700 employees are serving 15.9 million clients in almost 2,700 branches in-7 countries. Erste Group is one of the largest financial services providers in Central and Eastern Europe.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
An extended list of private actors is available in a separate file.
BCR Leasing ("BCR Leasing" or "The Company") is a wholly-owned subsidiary of Banca Comerciala Romana ("BCR", part of Erste Group) established in 2001. The Company provides domestic financial leasing services for the purchase of capital goods, such as: leasing for the purchase of vehicles, fleets, equipment and industrial machinery, agricultural machinery or medical equipment. Through its specialized subsidiary, BCR Fleet Management, the Company also offers customized operational leasing and fleet management services for cars and light commercial vehicles.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
Akira Holding Foundation | Parent Company | Agriculture and Forestry | owns | Louis Dreyfus Co Brasil SA | Client | Agriculture and Forestry |
Bunge Ltd | Parent Company | Agriculture and Forestry | owns | Bunge Finance Europe | Client | Agriculture and Forestry |
DCH International A/S | Parent Company | Agriculture and Forestry | owns | Premium Porc SRL | Client | Agriculture and Forestry |
Energeticky a Prumyslovy Holding | Parent Company | Energy | owns | EPH Refinancing 2020 | Client | Energy |
Energiepark Bruck/Leitha GmbH | Parent Company | Energy | owns | Bruckneudorf and Hoflein W | Client | Energy |
EP Investment SARL | Parent Company | Energy | owns | EP Infrastructure as | Client | Energy |
Erste Group | Investor | Finance | invests in | Acek Desarrollo y Gestion | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | Acek Desarrollo y Gestion | Client | Construction |
Erste Group | Investor | Finance | invests in | ACS | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | ACS | Client | Construction |
Erste Group | Investor | Finance | invests in | Akbank TAS | Parent Company | Finance |
Erste Group | Investor | Finance | invests in | Akbank TAS | Client | Finance |
Erste Group | Investor | Finance | invests in | Akira Holding Foundation | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Alvean Sugar SL | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Alvean Sugar SL | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Ameropa AG | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Ameropa AG | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | ams AG | Parent Company | Communications |
Erste Group | Investor | Finance | invests in | ams AG | Client | Communications |
Erste Group | Investor | Finance | invests in | Bajgora Wind Farm Acquisition | Client | Energy |
Erste Group | Investor | Finance | invests in | Best in Parking Konzernfinanzierungs GmbH | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | Best in Parking Konzernfinanzierungs GmbH | Client | Construction |
Erste Group | Investor | Finance | invests in | Bombardier Transp Finl | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | Bombardier Transp Finl | Client | Construction |
Erste Group | Investor | Finance | invests in | Borealis AG | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Bruckneudorf and Hoflein W | Client | Energy |
Erste Group | Investor | Finance | invests in | Bunge Finance Europe | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Bunge Ltd | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Caroli Foods Group | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | CTP Invest spol sro | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | DCH International A/S | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Doughty Hanson & Co Managers | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Duratex SA | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Energeticky a Prumyslovy Holding | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Energiepark Bruck/Leitha GmbH | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Enlight Energy Pv Acq | Client | Energy |
Erste Group | Investor | Finance | invests in | EP Infrastructure as | Client | Energy |
Erste Group | Investor | Finance | invests in | EP Infrastructure as | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | EP Investment SARL | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | EPH Refinancing 2020 | Client | Energy |
Erste Group | Investor | Finance | invests in | Eurocom Holdings (1979) Ltd | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Felix Distn Hldg Srl | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Felix Distn Hldg Srl | Client | Energy |
Erste Group | Investor | Finance | invests in | Finansbank AS | Client | Finance |
Erste Group | Investor | Finance | invests in | Fortum Oyj | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Global Pay Solutions Inc | Client | Communications |
Erste Group | Investor | Finance | invests in | Global Pay Solutions Inc | Parent Company | Communications |
Erste Group | Investor | Finance | invests in | Kenes International Ltd | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Koc Holding AS | Parent Company | Finance |
Erste Group | Investor | Finance | invests in | Kovacica Wind Farm | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Kovacica Wind Farm | Client | Energy |
Erste Group | Investor | Finance | invests in | Louis Dreyfus Co Brasil SA | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | LSREF III GTC Investments BV | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | MaxamCorp Holding SL | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | MET Holding AG | Client | Energy |
Erste Group | Investor | Finance | invests in | Montana Tech Components AG | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Mubadala Investment Co PJSC | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | MVM Plc | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | MVM Plc | Client | Energy |
Erste Group | Investor | Finance | invests in | Net4Gas | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Net4Gas Refinancing 2020 | Client | Energy |
Erste Group | Investor | Finance | invests in | Nordex SE | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | Nordex SE | Client | Construction |
Erste Group | Investor | Finance | invests in | Plus-City | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Premium Porc SRL | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Qatar National Bank Qpsc | Parent Company | Finance |
Erste Group | Investor | Finance | invests in | RHI AG | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | RHI AG | Client | Construction |
Erste Group | Investor | Finance | invests in | Rhi Magnesita NV | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | Rhi Magnesita NV | Client | Construction |
Erste Group | Investor | Finance | invests in | Sappi Ltd | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Sappi Papier Holding AG | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Sappi Papier Holding AG | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | See Bakery Intl Doo | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | See Bakery Intl Doo | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Steinhoff International Hldg | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Thimm Verpackung GmbH & Co KG | Parent Company | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Thimm Verpackung GmbH & Co KG | Client | Agriculture and Forestry |
Erste Group | Investor | Finance | invests in | Turkiye Is Bankasi AS | Parent Company | Finance |
Erste Group | Investor | Finance | invests in | Turkiye Is Bankasi AS | Client | Finance |
Erste Group | Investor | Finance | invests in | Unicredit SpA | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Valea Foundation | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Varta AG | Client | Energy |
Erste Group | Investor | Finance | invests in | Verbund AG | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Verbund AG | Client | Energy |
Erste Group | Investor | Finance | invests in | Wendel SE | Parent Company | Industry and Trade |
Erste Group | Investor | Finance | invests in | Wienerberger AG | Parent Company | Construction |
Erste Group | Investor | Finance | invests in | Wienerberger AG | Client | Construction |
Erste Group | Investor | Finance | invests in | WISD Holding Ltd | Parent Company | Energy |
Erste Group | Investor | Finance | invests in | Yapi ve Kredi Bankasi AS | Client | Finance |
Eurocom Holdings (1979) Ltd | Parent Company | Energy | owns | Bajgora Wind Farm Acquisition | Client | Energy |
Eurocom Holdings (1979) Ltd | Parent Company | Energy | owns | Enlight Energy Pv Acq | Client | Energy |
Kenes International Ltd | Parent Company | Agriculture and Forestry | owns | Caroli Foods Group | Client | Agriculture and Forestry |
Koc Holding AS | Parent Company | Finance | owns | Yapi ve Kredi Bankasi AS | Client | Finance |
Montana Tech Components AG | Parent Company | Energy | owns | Varta AG | Client | Energy |
Net4Gas | Parent Company | Energy | owns | Net4Gas Refinancing 2020 | Client | Energy |
Qatar National Bank Qpsc | Parent Company | Finance | owns | Finansbank AS | Client | Finance |
Sappi Ltd | Parent Company | Agriculture and Forestry | owns | Sappi Papier Holding AG | Client | Agriculture and Forestry |
WISD Holding Ltd | Parent Company | Energy | owns | MET Holding AG | Client | Energy |
Project Contact: loana Margareta Vasiliu
Business Line Controlling Senior Analyst, BCR Leasing IFN S.A.
Telephone No.: +40 (21) 323 73 10
Email Address: loanaMargareta.Vasiliu@bcr-leasing.ro
Office Address: 8 Piata Alba lulia, bl. I 7, Sector 3, 031105, Bucharest
Website: https://www.bcr-leasing.ro/
General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/