FIF - Regional SME CSP - Intesa Leasing IV

Location:

Serbia

Project number:

52242

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

23 Jun 2020

Status:

Disbursing

PSD disclosed:

19 Jun 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

This project was approved in the context of the Bank's response to the COVID-19 pandemic.  To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Bank's response to COVID-19, and this deviation, can be found on our website.

Provision of a senior unsecured loan to Intesa Leasing d.o.o. Beograd ("ILS") in the amount of up to EUR 10 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").

Project Objectives

The proceeds of the loan will be used to support an upgrade of production facilities in line with various EU Directives in the field of environmental protection, workers' safety and product quality with the aim to increase workplace safety and SME competitiveness.

Transition Impact

ETI score: 60

The project aims to enhance the competitiveness of SMEs in Serbia by (i) supporting SMEs in accessing finance towards EU standards investments; and (ii) assisting SMEs in accessing advice and know-how for introducing and implementing EU standards and becoming competitive.

Client Information

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 €136 million in assets and €9.5 million in equity at 31 December 2019. Intesa Leasing specializes in the financing of machinery, equipment and vehicles.

EBRD Finance Summary

EUR 10,000,000.00

EUR 10 million 

Total Project Cost

EUR 10,000,000.00

EUR 10 million

Additionality

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 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 Intesa Leasing has an ESMS 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 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 Program.

Company Contact Information

Slavko Dukic
slavko.dukic@intesaleasing.rs
+381 11 2025 416
+381 11 2025 433
www.intesaleasing.rs
INTESA LEASING doo Beograd Cara Urosa 54 Belgrade, Serbia

PSD last updated

19 Jun 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 more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

 

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