Poland Reff - Euro Bank S.A.

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 48601

Status Complete

Location

Poland

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 48601

Status Complete

Location

Poland

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

03 Nov 2017

Disclosure date

04 Apr 2017

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."

Translated version of this PSD: Polish

Project Description

Provision of a senior loan of up to PLN 100 million (EUR 23 million equivalent) to Euro Bank S.A. under the Poland-Renewable Energy Financing Facility (REFF) framework. The loan will be complemented by a comprehensive Technical Cooperation support package. Euro Bank S.A. will onlend the EBRD funds on market terms to customers to finance eligible energy and resource saving projects in residential buildings in Poland.

Project Objectives

The facility is aimed at tackling the high energy and water consumption in the Polish residential sector and expected to contribute to the following objectives: (i) enhance the competitiveness of commercial financing for energy and resource saving investments in the residential sector; (ii) improve living standards of households; (iii) lower carbon emissions; (iv) develop market-based loan instruments that target the above objectives.

Transition Impact

In line with the Poland-REFF framework the main sources of transition impact will come from the demonstration of financial viability of energy and resource efficiency financing. This in turn is expected to contribute to the growth of the market for sustainable energy and resource financing in Poland.

Client Information

EURO BANK SA

Euro Bank is a Polish retail bank specialising in mortgage and consumer finance (cash loans) with a full offer dedicated to individual clients. Euro Bank is part of Societe Generale, a leading European
universal bank.

EBRD Finance Summary

PLN 125,000,000.00

Total Project Cost

PLN 125,000,000.00

Environmental and Social Summary

Categorised FI. Euro Bank will be required to comply with EBRD's Performance Requirements 2, 4 & 9, adopt and implement the EBRD's ES Risk Management Procedures and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

The facility will be supported by a donor-funded Technical Cooperation (TC) package of up to EUR 2.5 million provided by a Project Consultant under the Poland-REFF framework. The initial amount of EUR 1 million TC is provided by the EBRD Shareholders Special Fund. Euro Bank is expected to contribute in-kind in parallel up to EUR 25,000 or up to 20% of the relevant TC resources (e.g. capacity building, marketing) and up to EUR 15,000 (monitoring/administration).

Company Contact Information

Marcin Karlowicz
marcin.karlowicz@eurobank.pl
+48 71 795 58 96
www.eurobank.pl
Page 3
Wroclaw 50-126, 72 Sw. Mikolaja Street

Transition impact

ETI Score:80

PSD last updated

01 Feb 2019

Business opportunities

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Public Information Policy (PIP)

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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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