FIF - Erste Bank Croatia: MSME finance

Location:

Croatia

Project number:

47912

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

25 Nov 2015

Status:

Signed

PSD disclosed:

22 Oct 2015

Translated version of this PSD: Croatian

Project Description

The EBRD is providing a credit line up to EUR 20 million to Erste & Steiermärkische Bank d.d. in Croatia ("EBC").

Project Objectives

The credit line will be channeled to the real economy via longer tenor investment loans, working capital facilities and other financial products to respond to identified gaps in the financial markets and to help micro, small and medium enterprises ("MSMEs") to enhance their competitiveness.

Transition Impact

The Croatian MSMEs have been suffering from the recession and access to financing has tightened due to growing NPLs. The proposed project will improve access to finance for MSMEs by providing long-term funding to EBC, a bank with strong capabilities and expertise in this segment. EBC will focused be on on-lending to MSMEs outside of the capital.

Client Information

ERSTE & STEIERMARKISCHE BANK D.D.

Erste & Steiermärkische Bank d.d., Zagreb is the 3rd largest bank with a 15.0% market share measured by total assets as of end of H1 2015.

EBRD Finance Summary

EUR 20,000,000.00

Total Project Cost

EUR 20,000,000.00

Environmental and Social Summary

Screened FI. EBC will be required to continue complying with national legal requirements and with the EBRD's Environmental and Social Policy and Procedures for Local Banks, including PR2, PR4 and PR, apply the EBRD¿s E&S Risk Management Procedures for SME and Micro loans. This will also include adherence to the EBRD's Environmental and Social Exclusion and Referral Lists, and submission of annual environmental and social reports to the Bank.

Technical Cooperation

None

Company Contact Information

Mirjana Haluga

mhaluga@erstebank.com

www.erstebank.hr

Ivana Lucica 2 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
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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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 (pcm@ebrd.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.

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