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FIF - OTP Leasing Serbia - SME



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

05 Sep 2023



PSD disclosed:

07 Sep 2023

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Provision of a senior loan in the amount of up to EUR 5 million, under the Financial Intermediaries Framework SME ("FIF" or the "Programme"), to OTP Leasing Serbia ("OTPL").

Project Objectives

The proceeds of the Bank's investment will be used for providing leasing to small and medium-sized enterprises (SMEs) in Serbia, in accordance with the FIF-SME Policy Statement. At least 25% of the investments will be in line with the Green Economy Transition ("GET") criteria. 

Transition Impact

ETI score: 60

The project contributes to the objectives of the Programme, supporting the Competitive and Resilient transition qualities. FIF seeks to (i) foster SME competitiveness by increasing availability of financing and (ii) contribute to the competitiveness of financial institutions by enabling innovation in strategy, products, processes and marketing related to SME lending. The focus will also be on lending in the regions outside the capital, attracting new SME clients and maintaining adequate portfolio quality. By ensuring that OTPL has adequate underwriting and risk management practices in place, the FIF also seeks to support the resilience of the financial system. 

Client Information


OTP Leasing Serbia (OTPL) is the third largest leasing company in Serbia measured by total assets as of 1H23, with a market share of 16.7% and total assets of EUR 222m. OTPL provides financial leases for a full set of assets ranging from freight vehicles, minibuses and buses to passenger vehicles, construction machines and agricultural equipment. The Company operates via two branch offices in Serbia with 62 employees and has active local and international partnerships with vendors and agents in all business areas.

EBRD Finance Summary

EUR 5,000,000.00

Total Project Cost

EUR 5,000,000.00


EBRD offers a tenor and/or grace period above the market average and EBRD provides expertise, innovation, knowledge and/or capabilities that are material to the timely realisation of the project's objectives.

Environmental and Social Summary

Categorised FI (2019 ESP). OTPL is an existing client and its performance to date for existing exposures has been satisfactory. The overall risk portfolio of the investments foreseen under this facility is low to medium risk. Due to the organisational changes, OTPL's Environmental and Social Management System has been aligned to OTP Group ESG policies and procedures. OTPL will be required to comply with EBRD's PRs 2, 4 and 9, including the expanded Exclusion List and FI Referral List, implement the EBRD's E&S Risk Management Procedures for Leasing and submit annual E&S reports to the Bank. Sub-borrowers financed through OTPL's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.

Technical Cooperation and Grant Financing


Company Contact Information

Nadja Kostic
381 11 222 1361
Bulevar Zorana Djindjica 50a/b, Novi Beograd, Srbija

PSD last updated

07 Sep 2023

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

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

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 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 to get guidance and more information on IPAM and how to submit a request.


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