Translated version of this PSD: Serbian
The EBRD is providing a senior loan of up to EUR 15 million to Intesa Intesa Leasing d.o.o Beograd ("ILS" or the "Company"), a subsidiary of Banca Intesa a.d. Beograd ("BIB" or the "Parent"), the largest bank in Serbia.
The Project aims to support micro, small and medium-sized enterprises (MSMEs) by increasing the availability of long-term lease financing for purchasing equipment, commercial vehicles and real estate for commercial purposes. Furthermore, EBRD will support ILS in diversifying its funding base as part of ILS' broader strategy to move towards sustainable long-term funding sources.
The transition impact derives from expanding long-term lease financing to MSMEs, particularly outside the capital Belgrade, for purchasing equipment, commercial vehicles and real estate for commercial purposes. As a leading leasing company in Serbia with a focus on MSMEs and as a subsidiary of the largest bank in Serbia, ILS is an ideal partner to expand financial intermediation to MSMEs in Serbia. The Project will also contribute to promoting an improved regulatory framework for leasing activities through a Policy Dialogue component.
INTESA LEASING DOO
As of end-March 2015, ILS is one of the leading leasing companies in Serbia with a market share of 12.3% in terms of total assets. The Company is specialised on leases to MSMEs with a strong foothold in equipment and commercial vehicle leasing.
EBRD Finance Summary
Senior loan of up to EUR 15 million to be disbursed in three tranches.
Total Project Cost
Environmental and Social Summary
Categorised FI. Intesa Leasing Serbia (ILS) has developed an acceptable approach to managing environmental and social issues which complies with PRs 2 and 9. This includes the development of a procedure for management of E&S risks, the allocation of E&S responsibilities within the Company, and the implementation of a E&S grievance mechanism. Intesa Leasing will be required to continue to comply with EBRD's PR 2 and PR 9 and submit annual reports on environmental & social matters and the implementation of the PRs to the Bank.
The Bank intends to support the improvement of the regulatory framework for leasing in Serbia with a Policy Dialogue component in cooperation with a Serbian-based group of concerned stakeholders.
Company Contact Information
INTESA LEASING doo Beograd Cara Urosa 54 Belgrade, Serbia
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