The proposed project will provide Element Leasing, a leading Russian leasing company providing financing to SMEs, with long-term financing to enable it to grow its lease portfolio and provide longer-term financial leases to its customers in all of the regions of the Russian Federation. The EBRD funds will be used to provide financial leases to customers for purchases of commercial vehicles and equipment.
The project will support and extend the development of the leasing market Russia. Element Leasing has one of the widest physical presences of any leasing company in Russia and its proximity to its clients give it the opportunity to develop its leasing portfolio very rapidly. SMEs in Russia are still vastly under-served, especially in the regions. This operation will boost the capability of a well-managed leasing company with experienced management team and SME-focused approach to provide long-term lease finance to SMEs in the regions of Russia and will complement the Bank’s existing SME activities.
Element Leasing Limited is a leasing company headquartered in Moscow. As of 30 September 2006, the Company had a leasing portfolio of USD 61.4 million and total assets of USD 87.5 million. Its capital was USD 13.0 million. The company provides financial leasing services in 75 cities across Russia. The company is owned by Basic Element Group, beneficially owned by Oleg Deripaska.
USD 10 million.
USD 10 million.
Element Leasing will be required to apply the EBRD’s Environmental Procedures for Intermediated Financing through Local Leasing Companies to financing of the leases, including ensuring compliance with the applicable national environmental, health and safety legislation, adherence with EBRD’s Environmental Exclusion List and submission of annual environmental reports to the Bank.
James Gorham, CEO
1st Kozhevnichesky Pereulok, 6/1
For business opportunities or procurement, contact the client company.
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
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (email@example.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.