Green Economy Financing Facility for Leasing in Poland - BZ WBK Leasing

Location:

Poland

Project number:

48886

Business sector:

Leasing Finance

Notice type:

Private

Environmental category:

FI

Target board date:

20 Sep 2017

Status:

Repaying

PSD disclosed:

22 Mar 2017

Translated version of this PSD: Polish

Project Description

The provision of a senior loan of up to €50 million to BZ WBK Leasing S.A. ("Project") under the GEFF Framework in Poland for Leasing ("Framework"). The proceeds will be used to provide leasing finance to small and medium-sized enterprises ("SMEs") in Poland. This will be the first project under the Framework.

Project Objectives

BZ WBK Leasing S.A. 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 the 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

BZ WBK LEASING SA

BZ WBK Leasing S.A. is part of Bank Zachodni WBK Group and is the 5th largest leasing company in Poland with €1.6 billion in assets and €122 million in equity at 31 December 2016. BZ WBK Leasing specializes in the financing of machinery, equipment and vehicles.

EBRD Finance Summary

EUR 50,000,000.00

Senior loan of up to €50 million with a maturity of 4 years and 1 year grace period.

Total Project Cost

EUR 50,000,000.00

Environmental and Social Summary

Categorised FI (2014). BZWBK Leasing will be required to comply with EBRD's PRs 2, 4 and 9, adopt the E&S Risk Management Procedures for Leasing Activities and submit annual environmental and social reports to the bank via the EBRD's Sustainability Index. BZWBK Leasing will be required to ensure sub-projects are in compliance with all applicable national environmental, social, health and safety and labour regulations and standards of Poland. The project will also be supported by TC consultant who will ensure eligible sub-projects are in compliance with the E&S eligibility criteria.

Technical Cooperation

The Framework is expected to be supported by TC of up to EUR 295,000.

Company Contact Information

Przemyslaw Mocek
przemyslaw.mocek@bzwbk.pl
(+48) 61 850 3536

Business opportunities

For business opportunities or procurement, contact the client company.

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