SAULES BANKA (CREDIT LINE)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 4429

Status Complete

Location

Latvia

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 4429

Status Complete

Location

Latvia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

07 Oct 1997

Disclosure date

05 Sep 1997

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

A credit line to A/S Saules Banka in Latvia for US$ 8 million to support local private sector small and medium-sized enterprises (SMEs).

The principal objectives of the project are to:

· enable SB to expand its business operations and to increase lending to private sector enterprises;

· assist SB in the enhancement of its lending skills and credit portfolio.

Transition Impact

SB is an important institution in the local market which provides a full range of corporate and retail banking services, and it has a reputation for good client service. In order to expand, and remain competitive, SB plans to escalate its activity in the corporate lending market.

The transition impact of the project will be achieved by:

· providing much needed term funding to the burgeoning Latvian private sector;

· adding to the development of a significant bank in the Latvian financial services market and helping to demonstrate confidence in the Latvian banking sector.

The Client

A/S Saules Banka (SB) is a joint-stock company incorporated under the laws of Latvia. SB is majority privately owned and a privately controlled commercial bank.

EBRD Finance

The project will consist of a US$ 8 million bank-to-bank loan in the form of a credit line aimed at meeting the term funding needs of private SMEs in Latvia.

Project Cost

US$ 8 million (ECU 7 million), all of which will be financed by the EBRD.

Environmental Impact

SB will carry out its operations in accordance with the EBRD's "Environmental Procedures for Intermediated Lending through Local Banks", which provide for the integration of environmental due diligence into SB's credit appraisal processes and a requirement that borrowers comply, at a minimum, with national and local health, safety and environmental regulations and standards and public consultation requirements.

Technical Cooperation

None

Company Contact

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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