Provision of a long-term senior unsecured loan of up to EUR 15 million to Raiffeisen Leasing Serbia ("RLS" or the "Company") for on-lending to small and medium-sized enterprises ("SMEs") in Serbia. The loan is envisaged under the Sustainable Reboot SME Programme ("Reboot SME"). The loan will be fully guaranteed by the parent, Raiffeisen Bank Serbia ("RBS" or the "Guarantor").
The loan is intended to provide financing for on-lending to local SMEs for investments in environmental protection, workers' safety and product quality and safety in order to introduce and implement EU and other international quality standards, which will boost SMEs' competitiveness in the country. At least 70% of the use of the proceeds is expected to be related to Green Economy Transition ("GET") investments.
ETI score: 60
The project supports the Competitive and Green TI qualities.
The Competitive quality will be supported by: (i) facilitating SMEs' increased competitiveness; and (ii) prioritising investments that result in compliance with EU Directives and other relevant international standards. The project will also facilitate investments in green technologies that will drive the transition to an environmentally sustainable, lower-carbon and climate-resilient green economy, thus supporting the Green quality.
RAIFFEISEN LEASING DOO BEOGRAD
Raiffeisen Leasing Serbia ("RLS" and "the Company") is a wholly owned subsidiary of Raiffeisen Bank Serbia ("RBS"). The Company operates via three branch offices in Serbia with 62 employees. As of YE21 the Company had total assets of EUR 131 million with a market share of 12.7%, representing the 4th largest market player in the leasing sector.
EBRD Finance Summary
Total Project Cost
Combining the necessary long-term financing with technical support and targeted investment incentives into a package that promotes green investments that will improve the competitiveness of SMEs.
Environmental and Social Summary
Categorized FI (ESP 2019). RLS is a new client and will be required to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019. ESDD is ongoing and RLS is in the process of completing the E&S Due Diligence Questionnaire for ESD to review and assess compliance with the relevant PRs. The Company will need to adopt and implement the EBRD's E&S Risk Management Procedures for Leasing and Corporate, SME and Micro loans and submit Annual Environmental and Social Reports to the Bank. ESDD as well as GET attribution and verification will be completed prior to Final Review submission.
Technical Cooperation and Grant Financing
The project will be supported by a comprehensive technical assistance to Raiffeisen Leasing Serbia and sub-borrowers to facilitate the project preparation and successful implementation of the Reboot SME programme.
The SMEs will also benefit from grant incentives worth up to 15 per cent of the lease financing amount. The grants will be funded by Luxembourg, Norway and the United States of America.
Company Contact Information
Raiffeisen banka a.d. Djordja Stanojevica 16, 11070 Beograd, Srbija
PSD last updated
14 Nov 2022
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Independent Project Accountability Mechanism (IPAM)
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