Croatia: Raiffeisen Factoring Programme



Project number:


Business sector:

Non-depository Credit (non bank)

Notice type:


Environmental category:


Approval date:

06 Jul 2016



PSD disclosed:

25 May 2016

Translated version of this PSD: Croatian

Project Description

The EBRD is considering a senior loan of up to EUR 90 million to Raiffeisen factoring d.o.o in Croatia.

Project Objectives

The proceeds of the EBRD loan will be used for the purpose of providing factoring services to SME and corporate clients in Croatia with increased regional presence.

Transition Impact

Bank's continued support to SMEs through providing financing to a factoring company in Croatia is important as it will significantly contribute to improve cash-convention by easing the liquidity pressures and ensuring adequate working capital needed for the business activity. Alongside the
proposed funding, the Banks's medium term engagement continues supporting the policy dialog with the regulator and other institutions in addressing challenges and obstacles for the full implementation of the Factoring Law.

The proposed financing will also create the opportunity to launch non - recourse factoring for SMEs supported by the insurance policy - which will facilitate instant access to working capital to those companies which are not eligible for bank financing due to lack of required collateral.

Client Information


Raiffeisen Factoring d.o.o. incorporated in Croatia is 100%-owned by Raiffeisenbank Austria d.d. Zagreb.

EBRD Finance Summary

EUR 90,000,000.00

Total Project Cost

EUR 90,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). RFC is an existing client of the Bank and is compliant with requirements of PRs 2, 4 (health and safety) & 9. Under existing exposure with the Bank, RFC is applying the Bank's Environmental & Social Procedures for Factoring, which includes assigning appropriate management and staff resources for the implementation of the procedures and establish a process for dealing with external communications on environmental and social matters. RFC will be required to continue to comply with the EBRD's E&S requirements, ensure sub-projects meet national environmental, health and safety and labour regulations and standards and submit annual environmental and social reports to the Bank.

Technical Cooperation


Company Contact Information

Tomislav Kuharic
+385 1 5575703
+385 1 4604 877

Raiffeisen FACTORING d.o.o. Froudeova 11, 10000 Zagreb

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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 email, mail 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. Requestors’ identities may be kept confidential, upon request.

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