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").
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.
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.
SPARKASSE LEASING DOO
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 senior loan with 5 year tenor and a grace period of 2 years.
Total Project Cost
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
+389 2 3077 096
+389 2 3077 088
9/11 Makedonija st., 1000 Skopje
PSD last updated
28 Jan 2020
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Independent Project Accountability Mechanism (IPAM)
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