GEFF - Poland - Millennium Leasing

Location:

Poland

Project number:

49944

Business sector:

Leasing Finance

Notice type:

Private

Environmental category:

FI

Approval date:

26 Apr 2018

Status:

Signed

PSD disclosed:

21 Mar 2018

Translated version of this PSD: Polish

Project Description

The provision of a senior loan of PLN 300 million to Millennium Leasing Sp. z o.o. ("Project") under the PolGEFF Leasing Framework ("Framework"). The proceeds will be used to provide leasing finance to small and medium-sized enterprises ("SMEs") in Poland. This will be the second project under the Framework.

Project Objectives

Millennium Leasing Sp. z o.o. will use the proceeds of the loan to finance energy and resource efficiency, renewable energy, water and waste management sub-projects, through private businesses, that stimulate green economy transition (i.e. GET investments), under PolGEFF Leasing Framework. The eligible sub-projects will cover a broad spectrum of technologies and will be selected according to technical, financial and environmental eligibility criteria.

Transition Impact

The main sources of transition impact will stem from the demonstration of commercial viability of resource and energy efficiency investments to private businesses and the financial sector, which is expected to contribute to the market expansion and transfer of skills in Poland.

Client Information

MILLENNIUM LEASING SP Z O O

Millennium Leasing S.A. is part of Bank Millennium S.A. Capital Group and is the 8th largest leasing company in Poland with €720 million in net asset value financed in 2017. Millennium Leasing specializes in the financing of machinery, equipment and vehicles (light and heavy transport).

EBRD Finance Summary

EUR 75,000,000.00

Senior loan of up to €75 million with a maturity of 5 years and 2.5 year grace period.

Total Project Cost

EUR 75,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). Bank Millennium will be required to ensure Millennium Leasing complies with EBRD's Performance Requirements 2, 4 and 9, adopts and implements the EBRD's E&S Procedure for Leasing and submits Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the PRs.

Technical Cooperation

None.

Company Contact Information

Radoslaw Szczesniak
radoslaw.szczesniak@millenniumleasing.pl
+ 48 22 598 2827

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)

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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