The provision of a senior unsecured loan to Intesa Leasing d.o.o. Beograd (ILS) in the amount of up to €5 million for on-lending to local small and medium-sized enterprises (SMEs) in Serbia through the SME Competitiveness Support Programme (SME-CSP) under the Financial Intermediary Framework (FIF).
The Loan will support investments in micro, small and medium-sized enterprises in Serbia that will assist in improving competitiveness and compliance with technical and environmental standards in line with the EU directives. Up to 60 per cent of the loan proceeds are expected to be utilised for GET eligible investments.
ETI score: 60
The project contributes to the objectives of the Regional SME-CSP, supporting the Competitive and Resilient TI qualities.
Competitive: The project will contribute towards: (i) supporting SMEs in accessing finance towards EU standards investments; 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 strong underwriting expertise and adequate portfolio quality of ILS.
INTESA LEASING DOO
Intesa Leasing d.o.o. is part of the Intesa Group and is one of the largest leasing companies in Serbia with €167 million in assets and €12 million in equity at the end of the first half of 2021. Intesa Leasing specialises in the financing of machinery, equipment and vehicles.
EBRD Finance Summary
€5 million financed by EBRD.
Total Project Cost
The total project cost is €5 million.
The EBRD loan will provide financing and technical cooperation which will help to address issues of limited availability of medium-term financing in order for SMEs to introduce standards in line with EU directives and increase the awareness and knowledge of SMEs about the benefits of compliance with EU standards.
Environmental and Social Summary
Categorised FI (2019 ESP). Intesa Leasing is an existing client of the Bank and has been satisfactorily reporting on the implementation of the EBRD's E&S Risk Management Procedures and on its compliance with PRs 2, 4 and 9. The existing portfolio includes industry sectors which are deemed to be medium-high E&S risk and the client has an environmental management system in place to assess and monitor these risks. Intesa Leasing will be required to continue to comply with the PRs and the E&S Risk Management procedures for Leasing Activities, including adherence to the expanded the EBRD E&S Exclusion List and Referral List introduced with ESP 2019 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 Loan will to benefit from the Technical Assistance package implemented under the SME-CSP Programme.
Company Contact Information
+381 11 2025 416
INTESA LEASING doo Beograd Cara Urosa 54 Belgrade, Serbia
PSD last updated
26 Nov 2021
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
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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).
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 firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.