First Lease LLC



Project number:


Business sector:

Leasing Finance

Notice type:


Environmental category:


Approval date:

29 Nov 2005



PSD disclosed:

28 Oct 2005

Project Description

The proposed project consists of a Senior Loan to First Lease, a Kiev based vehicle fleet leasing company owned by ALD International SA, which is part of the Société Générale Group. The loan will finance full service operating leases of passenger and light commercial vehicles to Ukrainian Corporates; with a significant part of the loan being used to finance leases to SMEs. The main objective of the project is to support the development of vehicle fleet leasing in Ukraine by providing long-term debt facility to First Lease.

Transition Impact

The transition impact of this project will arise from its support for the development of the Ukrainian leasing sector; promoting increased financial intermediation by supporting a major international vehicle fleet leasing group following its entry into Ukraine; increasing competition in vehicle fleet leasing; and supporting SME sector development.

The Client

First Lease was established in July 1999 to undertake vehicle fleet leasing to corporates in Ukraine and has operated under the Hertz franchise since 2001. Recently, ALD International SA, the vehicle fleet leasing company that is part of the Société Générale Group acquired First Lease.

EBRD Finance

Senior Loan of EUR 12 million.

Project Cost

EUR 12 million.

Environmental Impact

First Lease will be required to apply EBRD’s Environmental Procedures for Leasing Companies which includes compliance with the Bank’s Environmental Exclusion List. All lease agreements between First Lease and its lessees will contain a provision in which such lessees agree to operate the leased vehicles in compliance with the applicable environmental, health and safety requirements of the Government of Ukraine and the local authorities.

Technical Cooperation


Company Contact

F Hamain
First Lease
Frunze 69,
04080 Kiev,

Tel: +38 044 247 69 69

Email :


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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