Provision of a senior unsecured loan to Raiffeisen Leasing in Croatia ("RLC") in the amount of up to EUR 25 million for on-lending to local small and medium-sized enterprises ("SMEs") in Croatia under the Financial Intermediary Framework ("FIF"). This project is prepraed in the context of the Bank's response to the Covid-19 pandemic.
The proceeds of the loan will be used to finance local micro, small and medium-sized enterprises (MSMEs) lessees to ensure their uninterrupted access to finance following the economic consequences of the Covid-19 pandemic.
ETI score: 60
The project will support the Financial Intermediary Framework qualities by enhancing both RLC's competitiveness by helping expand its SME portfolio with a focus on reaching regional clients outside of the capital and its resilience by helping ensure prudent leasing practises and adequate portfolio quality. With its wide regional outreach across Croatia, RLC is well positioned to provide finance to MSMEs and attract new MSME clients.
RAIFFEISEN LEASING DOO
Raiffeisen Leasing Croatia is part of Raiffeisen Bank International group and the sixth largest leasing company in Croatia (by total asset) with the market share of 6.3% at the end of 2020.
EBRD Finance Summary
Senior loan of up to EUR 25,000,000.
Total Project Cost
Total project cost is up to EUR 25,000,000.
The EBRD's participation in the proposed transaction is expected to be highly additional in light of the impact of the Covid-19 pandemic on the Croatian economy and MSME sector in particular, elevated risks and confidence-enhancing effect of the EBRD's financial backing. The EBRD's proposed loan will help offer financing to diversify the client's funding base, enhance knowledge, innovation and capacity building, and enable expansion.
Environmental and Social Summary
Categorised FI (ESP 2019): RLC is an existing client of the Bank. Reporting by the client has confirmed that RLC has in place the necessary environmental and social (E&S) policies, procedures and risk assessment tools in line with the Bank's E&S requirements. RLC will be required to continue to comply with PRs 2, 4 and 9 and implement sub-projects in accordance with the EBRD's Environmental and Social Procedures for Corporate Loans, SME and Micro Loans; and submit to EBRD an Annual Environmental and Social Report. The client will be informed to apply the extended Exclusion and new Referral list introduced with ESP 2019.
Technical Cooperation and Grant Financing
Company Contact Information
+385 1 4566-466
Raiffeisen Leasing d.o.o. Magazinska cesta 69 Zagreb, Croatia
PSD last updated
21 May 2021
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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).
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