FIF - Sparkasse Leasing Macedonia


North Macedonia

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

17 Dec 2019



PSD disclosed:

28 Jan 2020

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

Provision of a EUR 1 million senior loan to Sparkasse Lizing DOO Skopje, a leasing company operating in North Macedonia, under the Competitiveness Support Program ("CSP"). 

Project Objectives

Use of proceeds will be in line with the Competitiveness Support Program Policy Statement. As the company deals mostly with transport vehicles, the funds will be used for EURO 6 trucks and buses, construction machines, and electric/hybrid vehicles.

Transition Impact

ETI score: 60

The project contributes to the objectives of CSP, supporting the Competitive and Resilient TI quality.

Competitive: The project will contribute towards: (i) supporting SMEs in accessing finance for investments that meet EU standards; and (ii) assisting SMEs to access advice and know-how for introducing and implementing EU standards and becoming competitive.

Resilient: Sub-borrowers will be expected to be commercially viable, which will be reflected in the expected strong underwriting expertise and adequate portfolio quality of the PFIs.

Client Information


Sparkasse Lizing DOO Skopje ("Sparkasse Leasing", "SL", or the "Company") is a limited liability company operating in North Macedonia and is owned by Sparkasse Bank Macedonia AD ("SBM", 49%) and the latter's parent, Steiermarkische Bank und Sparkassen AG Graz ("Steiermarkische", 51%). It provides finance and operating leases for passenger cars, commercial vehicles, industrial machinery, and equipment. It is a new client of the Bank. 

EBRD Finance Summary

EUR 1,000,000.00

EUR 1,000,000 senior loan with 5 year tenor and a grace period of 2 years. 

Total Project Cost

EUR 1,000,000.00


Additionality is achieved by combining the necessary long-term financing, in the form of the senior loan, with technical support and targeted investment incentives into a package that promotes investments that will improve the competitiveness of the local SMEs.

Environmental and Social Summary

Categorised FI (2014 ESP). Sparkasse Leasing will be required to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, adopt and implement the EBRD's E&S Procedures for Leasing Activities and submit Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the Performance Requirements.

Technical Cooperation and Grant Financing

The technical cooperation will include support for Programme Consultants who will assist with the implementation, marketing and monitoring of the Competitiveness Support Programme and a separate verification of the technical implementation of the investments by the Sub-borrowers before the incentive payment is released. EUR 150,000 will be provided as investment incentives to the Sub-borrowers for the implementation of eligible investments in line with the CSP Policy Statement. These funds are provided by the European Union through the Instrument for Pre-Accession Assistance ("IPA") regional fund for Western Balkans. 

Company Contact Information

Marjan Mancev
+389 2 3077 096
+389 2 3077 088
9/11 Makedonija st., 1000 Skopje

Implementation summary

PSD last updated

28 Jan 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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