FIF - Poland - Pekao Leasing

Location:

Poland

Project number:

52059

Business sector:

Financial institutions

Notice type:

Private

Approval date:

28 May 2020

Status:

Passed Final Review, Pending Approval

PSD disclosed:

22 Apr 2020

Project Description

Provision of a EUR 50 million equivalent senior loan to "PEKAO LEASING" Sp. z o.o. under the Financial Intermediaries Framework as a part of a EUR 100 million equivalent senior loan package.

Project Objectives

The proceeds of the loan will be used to provide financing to micro, small and medium-sized enterprises (MSMEs) in Poland.

Transition Impact

The transition impact is expected to derive from providing external financing in a distorted market environment due to the impact of the coronavirus epidemic and improving the access to leasing services for MSMEs, which will strengthen their competitiveness.

Client Information

PEKAO LEASING SP ZOO

"PEKAO LEASING" Sp. z o.o. is part of the Bank Pekao Group and one of the largest leasing companies in Poland with €1.8 billion in assets and €124 million in equity as of 31 December 2019. It specialises in the financing of machinery, equipment and vehicles.

EBRD Finance Summary

EUR 50,000,000.00

Total Project Cost

EUR 50,000,000.00

Additionality

Additionality of the project stems from the financing structure: The EBRD offers a local currency financing option with a grace period and tenor above what is available in the market. The facility also contributes to the diversification of the funding of "PEKAO LEASING" Sp. z o.o and supports "PEKAO LEASING" Sp. z o. in acquiring external financing in a distorted market environment.

Environmental and Social Summary

Categorised FI (ESP 2014). PEKAO LEASING 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 and Grant Financing

None.

Company Contact Information

Bartosz Wesierski
Bartosz.Wesierski@pekaoleasing.com.pl
+48 (22) 54 82 235
https://www.pekaoleasing.com.pl/
53/57 Grzybowska Street 00-950 Warsaw, Poland

PSD last updated

22 Apr 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

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 how to submit a Request for review through our confidential online form, by emailmail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requesters’ identities may be kept confidential, upon request.

 

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