The EBRD is considering an extension to the existing PolSEFF facility in the total amount of EUR 30 million. The purpose is to provide credit lines to the best performing existing participating financial intermediaries (“PFIs”) for on-lending to SMEs for energy efficiency and small-scale renewable energy investments.
The Project will continue to generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency investments in the SME segment in Poland.
The Project will continue developing and demonstrating efficient and effective financing mechanisms for energy efficiency projects through business models designed specifically to overcome aspects of energy efficiency projects considered risky and to reduce transaction costs.
The Project will also continue to transfer and build expertise, among both financial institutions and companies, related to energy efficiency, energy management and renewable energy investments.
Clients of the EBRD will be the two best performing participating financial intermediaries under PolSEFF – BZ WBK Finanse & Leasing and Millennium Bank. Those clients have extensive outreach into the SME segment, have already benefitted from technical assistance under PolSEFF and have a successful track record in lending under the EBRD credit lines.
EUR 30 million in senior loans to PFIs.
EUR 30 million.
Categorised FI. This Project offers significant environmental opportunities as it will contribute to the reduction of greenhouse gases. All participating banks are required to comply with the requirements of the EBRD’s Performance Requirement 2 (“PR”) on Labour and Working Conditions. All sub-loans under the credit lines will need to comply with the requirements of PR9. Sub-borrowers financed through the credit lines will be required to comply with national requirements for environment, health and safety and labour standards. Reporting on sub-projects and annual environmental and social reports will be provided by the participating banks. The independent Project Consultant will be employed to review proposals and confirm compliance with national Environmental, Health and Safety Legislation requirements.
The extension to the Facility will continue to be supported by a comprehensive technical assistance programme and incentive grant scheme to provide implementation support to participating financial intermediaries and sub-borrowers. Funding for the TC programme and incentive scheme is going to be provided by the EU.
Karina Saroukhanian, Tel: +44 207 338 6811
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