FIF - UniCredit Leasing Latvia

Location:

Latvia

Project number:

50884

Business sector:

Leasing Finance

Notice type:

Private

Environmental category:

FI

Target board date:

13 Nov 2019

Status:

Concept Reviewed

PSD disclosed:

08 Oct 2019

Translated version of this PSD: Latvian

Project Description

The provision of a senior loan of up to €50 million to SIA Unicredit Leasing Latvia ("UCL") for leasing finance.

Project Objectives

The proceeds of the loan will be used to provide long-term leasing finance to micro, small and medium-sized enterprises ("MSMEs") in Latvia.

Transition Impact

The Project contributes to the objectives of the Financial Intermediary Framework and seeks to foster competitiveness by increasing availability of financing to private MSMEs. The project also aims to support the diversification of UCL's funding sources and expansion of UCL's MSME financing.

Client Information

UNICREDIT LEASING SIA

SIA Unicredit Leasing Latvia is part of Unicredit Group and is a leading leasing company in Latvia and the Baltic region. UCL provides leasing finance for a wide range of assets including vehicles (light and heavy transport), machinery and equipment.

EBRD Finance Summary 

€ 50 million

Total Project Cost

€ 50 million

Environmental and Social Summary

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

Technical Cooperation

None.

Company Contact Information

Veronica Tomasoni, CFO
veronica.tomasoni@unicredit.lv
+371 (0) 67 085 716
https://www.unicredit.lv
SIA "UniCredit Leasing", 41 Mukusalas street, Riga, LV-1004, Latvia

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