Project description
and objectives:
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The proposed project envisages providing a local currency loan of RUB 600 mln (USD 25 mln equivalent) with a maturity of 5 years to Europlan, one of the leading providers of financial leases to small and medium-sized enterprises (SMEs) in Russia.
The RUB facility will enable the Company to provide local currency leases to SMEs in 68 regions where the Company operates.
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Transition impact:
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The transition impact of this project arises from the following areas:
Increasing access to medium-term Rouble financing for SME’s: providing Rouble term funds to finance SMEs will allow EBRD funds to reach sub-borrowers that currently either have access only to short-term Rouble funding or have to carry currency risks.
Increasing competition in the leasing sector: a healthy leasing industry will assist in bringing increased flows of financing to the productive sector of the economy, thereby facilitating growth of domestic production. The Bank is looking to support leasing companies that are able to compete on the basis quality of service, responsiveness to clients, and speed of decision-making.
Demonstration effect of medium-term funding in Roubles: will promote the provision of Rouble-denominated loans by foreign financiers to Russian banks for longer tenors.
Developing a leasing market in the regions. EP has a large regional branch network, which gives it the ability to serve local SMEs throughout 68 regions. The proposed transaction will support Europlan’s medium term strategy aimed to further build up its presence all over the country.
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The client:
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Europlan, headquartered in Moscow, has 41 offices and presence in 68 regions and provides lease financing solutions to successful Russian SMEs.
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EBRD finance:
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A RUB loan in the amount of RUB 600 million (USD 25 million equivanent) on a maturity of 5 years.
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Total project cost:
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RUB 600 million.
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Environmental impact:
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Europlan will be required to comply with EBRD’s Environmental Procedures for Intermediated Finance through local leasing companies, including ensuring compliance with the applicable national environmental, health and safety and labour regulations and standards adherence with EBRD’s Environmental Exclusion and Referral List and submission of annual environmental reports to the Bank.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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tba
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EBRD contact:
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Andreea Moraru, Operation Leader: morarua@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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