FIF - Regional SME CSP - Serbia UCB

Location:

Serbia

Project number:

50306

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

25 Apr 2019

Status:

Passed Final Review, Pending Board Approval

PSD disclosed:

25 Mar 2019

Translated version of this PSD: Serbian

Project Description

Long-term senior unsecured loan to UniCredit Bank Serbia JSC ("UCB") for on-lending to small and medium enterprises (SMEs) in Serbia. The loan is envisaged under the Regional SME Competitiveness Support Programme ("SME-CSP").

Project Objectives

The loan is envisaged to provide financing for on-lending to the local SMEs for investments in environmental protection, workers' safety and product quality and safety, in order to introduce and implement EU standards which will boost SME's competitiveness. At least 60% of the use of proceeds is expected to be related to Green Economy Transition ("GET") investments.

Transition Impact

The project aims at enhancing the competitiveness of SMEs in Serbia, by (i) supporting SMEs in accessing finance towards EU standards investments; and (ii) assisting SMEs to access advice and know-how for introducing and implementing EU standards and becoming competitive.

Client Information

UNICREDIT BANK SERBIA JSC

With total assets of EUR 3.7 billion as at end-2018, UCB is one of the leading and largest universal banks in Serbia with strong foothold in corporate and consumer lending. It is one of the most profitable banks in Serbia with outstanding operating efficiency and strong branch network. UCB is 100% owned by UniCredit Spa, Italy.

EBRD Finance Summary

EUR 10,000,000.00

Total Project Cost

EUR 10,000,000.00

Environmental and Social Summary

Categorised FI (2014 ESP). UCB is an existing client of the Bank and is satisfactorily implementing the Bank's E&S requirements. UCB will be required to continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 and continue submitting the EBRD FI Sustainability Index to the Bank on an annual basis. UCB will need to comply with the EBRD's Environmental and Social Risk Management Procedures for Corporate Loans, SME and Micro Loans.

Technical Cooperation

The project will be supported by a comprehensive technical assistance to UCB and sub-borrowers to facilitate the project preparation and successful implementation of the Regional SME-CSP Programme. The technical assistance is funded by the European Union.

Company Contact Information

Milan Davidovic
milan.davidovic@unicreditgroup.rs
+381113777853
www.unicreditbank.rs
Jurija Gagarina 12, Belgrade, Serbia

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