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EBRD supports expansion of Deutsche Leasing in central Europe
Credit line to benefit small and medium-sized enterprises
The EBRD is providing three loans of up to €10 million each to Deutsche
Leasing Hungary, Deutsche Leasing Czech Republic and Deutsche Leasing Poland
for the financing of leases to micro and small enterprises. The loans, which
come under the leasing window of the EU/EBRD SME Finance Facility, will be
complemented with grants from the European Commission for training and
management improvements and with performance fees.
Deutsche Leasing Hungary, Deutsche Leasing Czech Republic and Deutsche Leasing
Poland are fully owned subsidiaries of Germany’s market leader Deutsche
Leasing and are focused on developing their micro and small enterprises
portfolio. As access to finance remains difficult for small enterprises in
central and eastern Europe, leasing is one of the few available sources to
support the development of this vital economic segment.
Jonathan Woollett, EBRD Director for Non-Bank Financial Institutions, said the
loans will help Deutsche Leasing to intensify its presence in the smaller and
micro enterprises leasing markets in the region. Widening its customer base
outside the major cities will allow the local companies to grow their leasing
volume and strengthen their market positions.
Hans-Jürgen Schnell, Head of Treasury of Deutsche Leasing Group, said: “The
cooperation with the EBRD will allow us to expand our services on a European
scale, servicing especially small and medium-sized clients in central Europe.”
Georg Hansjuergens, Managing Director of Deutsche Leasing Hungary, added:
“This focus will also ensure the success of our export-oriented partners."
The EU/EBRD SME Finance Facility, a joint programme of the European Commission
and the EBRD, supports the development and growth of entrepreneurs by
facilitating their access to finance. The Bank will make available funding of
€1.1 billion, of which €880 million has been committed to signed projects to
date. The EC has been contributing €156.75 million in grant financing and for
technical assistance since the launch of the programme in 1999. For further
information about the Phare programme, the main channel for the EU’s financial
and technical cooperation with accession countries, see: http://europa.eu.int/comm/enlargement.
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