Raiffeisen Factoring - Credit Line



Project number:


Business sector:

Non-depository Credit (non bank)

Notice type:


Environmental category:


Approval date:

11 Jun 2014



PSD disclosed:

09 May 2014

Translated version of this PSD: Croatian

Project Description

The EBRD is considering a senior loan of up to EUR 20 million to Raiffeisen factoring d.o.o in Croatia (“RFC”) for the purpose of providing factoring services to micro, SME and corporate clients in Croatia.

Transition Impact

As a result of the prolonged recession in Croatia, the number of companies experiencing liquidity constraints has been increasing; this has had a marked impact on SMEs, who often lack access to credit lines. The Bank is intensively engaged with enhancing the factoring market in Croatia, which can be a source of liquidity for SMEs. The Bank’s involvement has included:

(i) technical assistance for the preparation of the regulatory framework for the factoring industry and

(ii) the first direct funding to RFC in amount of EUR 10 million in November 2013.

The proposed extension of the RFC financing is a continuation of this work. Further support through a direct credit line to this factoring company will help to increase the availability of this form of finance to SMEs, and will support RFC in introducing new products that will be facilitated by the approval of the new factoring law, and in providing workshops to SMEs to familiarize them with factoring.

The Client

Raiffeisen Factoring d.o.o. incorporated in Croatia is 100%-owned by Raiffeisenbank Austria d.d. Zagreb.

EBRD Finance

EUR 20 million long-term senior loan to Raiffeisen factoring d.o.o in Croatia.

Project Cost

EUR 20 million.

Environmental Impact

Screened FI. RFC will be required to continue to comply with national legal requirements and with the EBRD's Environmental and Social Policy and Procedures for Local factoring companies, including PR 2 and PR 9. This will also include adherence to the EBRD's Environmental and Social Exclusion and Referral Lists, and submission of annual environmental and social reports to the Bank.

Technical Cooperation


Company Contact

Name: Željka Pavalić
Raiffeisen FACTORING d.o.o.
Froudeova 11, 10000 Zagreb

Tel: +385 1 6174 893
Fax: +385 1 4604 877
E-mail: zeljka.pavalic@rba.hr
Website: www.raiffeisen-factoring.hr


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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