Provision of a senior unsecured loan in the amount of up to EUR 8 million in single tranche to Banka Intesa Beograd ("BIB"), a joint-stock company incorporated in Serbia, for on-lending to eligible women-led SMEs in line with the criteria under Western Balkans Women in Business Programme Phase II ("WB WiBP II").
The proposed operation is the fourth successive loan to BIB under WB WiBP following the full and successful utilisation of the previous facilities.
The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services.
ETI score: 68
The project contributes to the objectives of the WB WiBP II, supporting the Transition Impact qualities of Inclusive (primary) and Competitive (secondary):
Inclusive: The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services, while demonstrating the business case for scaling-up lending to the women-led SME segment.
Competitive: Transition impact is expected to derive from market expansion in line with EBRD Financial Intermediaries Framework.
BANCA INTESA AD BEOGRAD
BIB is the largest bank in Serbia with 16.0% market share in total loans and leading position in corporate and retail banking as of 4Q 2019. It has approximately 3,000 employees and branch network of 155 offices accross Serbia. It is ultimately owned by Intesa Sanpaolo SPA, Italy.
EBRD Finance Summary
Total Project Cost
The project will support the market segment as a whole and enable the continuance of the successful implementation of previous three WiB projects. Non-TC grant, in the form of First Loss Risk Cover, would incentivise BIB to penetrate this segment further and encourage them to mainstream providing financing to women-led businesses. The TC package will support (i) PFI in expanding thier financial and non-financial services to WiB segment beyond what BIB had achieved during the previous period and (ii) women entrepreneurs in equipping them with key managerial and financial skills through seminars. It will also assist BIB in mobilising longer-term external funds which will help to diversify the bank's funding base and expand lending to private women-led SMEs in Serbia.
Environmental and Social Summary
Categorised FI (ESP 2014): BIB is an existing client of the Bank. Reporting by the client has confirmed that BIB 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. Further, E&S training has been previously provided by the Bank's consultant. BIB 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. Annual reporting shall continue via the FI Sustainability Index.
Technical Cooperation and Grant Financing
Technical cooperation (TC): will cover BIB's capacity building (i.e. seminars, women banking initiative or equal oportunity actional plan) and ASB's advisory support for women-led SMEs, funded jointly by the Government of Luxembourg and Sweden.
Non-TC:Grant funds of up to EUR 0.8 million to provide First Loss Risk Cover for BIB.
Company Contact Information
+381 11 201 1400
381 11 201 1260
Milentija Popovica 7b 11070 Novi Beograd
PSD last updated
24 Jun 2020
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