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 - Western Balkans ("CSP-WB").
The loan will provide financing to sub-borrowers for investments in vehicles and equipment that are designed to improve compliance with one or more of the EU Directives in the field of environmental protection, workers' safety and product quality and safety. More specifically, sub-borrowers will use funds to lease EURO 6 trucks, semi-trailers, vans and construction machines. At least 60% of the use of proceeds will be related to GET investments. The Project Consultant ("PC") will physically assess the successful implementation and completion of all sub-projects.
ETI score: 60
The project contributes to the objectives of CSP-WB, supporting the Competitive and Resilient transition qualities.
Competitive: The programme will encourage the competitiveness of SMEs in the Western Balkans, by (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: The project will foster the resilience of SMEs as sub-borrowers will be expected to be commercially viable.
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.
EBRD Finance Summary
EUR 1 million senior loan
Total Project Cost
Additionality is achieved through the financing structure and knowledge, innovation and capacity building. The project combines necessary long-term financing with technical support and targeted investment incentives into a package that promotes investments improving the competitiveness of local SMEs.
Environmental and Social Summary
Categorised FI (ESP 2019). Sparkasse Leasing (SL) has appropriate E&S management systems in place through its parent, Sparkasse Macedonia, which is a long time EBRD client in compliance with Performance Requirements (PRs) 2, 4 and 9. SL will be required to continue to comply with PRs 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019, undertake the EBRD environmental & social e-learning training programme for financial intermediaries and adopt and implement the EBRD's Environmental & Social (E&S) Risk Management 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
Technical Cooperation: The Technical Cooperation will include support for Programme Consultants that will assist with the implementation, marketing and monitoring of the Programme and a separate verification of the technical implementation of the investments by the Sub-borrowers before the incentive payment is released.
Non-Technical Cooperation: Non-Technical Cooperation will include investment incentives to Sub-borrowers for the implementation of eligible investments in line with the CSP WB Policy Statement.
The Technical and the Non-Technical Cooperation resources are provided by the European Union.
Company Contact Information
+389 2 3077 096
+389 2 3077 088
9/11 Makedonija st., 1000 Skopje, N.Macedonia
PSD last updated
22 Feb 2021
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Independent Project Accountability Mechanism (IPAM)
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