The EBRD is considering providing a senior loan to Raiffeisen Leasing Bulgaria in the amount of €20 million for on-lending to SME clients (in accordance with the EU definition).
The credit line will contribute to the transition process by maintaining an essential flow of lending to enterprises at a time when the availability of credit, particularly to SMEs, has been constrained. The financial crisis has negatively affected the leasing market and most leasing companies have curtailed their operations although recent indications are that the demand for new business is increasing.
Raiffeisen Leasing Bulgaria is part of Raiffeisen Group. The market share based on net lease portfolio as of end of June 2010 was 7.22 percent, placing Raiffeisen Leasing Bulgaria within the top five players on the Bulgaria leasing market.
Senior loan in the amount of €20 million.
Raiffeisen Leasing Bulgaria will be required to comply with EBRD’s Environmental Performance Requirement (“PR”) 9 when making local leases, conduct its business in accordance with PR 2, adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit Annual Environmental and Social Reports to the Bank. The company’s borrowers will be required to comply with applicable national environmental, health and safety and labour requirements.
Tsvetanka Madjounova, Head of Financial Institutions Department,
Raiffeisenbank (Bulgaria) EAD,
Tel: + 35 92 91985 423;
Fax: + 35 92 943 45 57.
For business opportunities or procurement, contact the client company.
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