SLOVSEFF III Extension - UniCredit Bank CZ&SK

Location:

Slovak Republic

Project number:

48224

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

07 Sep 2016

Status:

Repaying

PSD disclosed:

06 Jun 2016

Translated version of this PSD: Slovak

Project Description

The EBRD is considering to providing a EUR 20 million credit line to UniCredit Bank Czech Republic and Slovakia, a.s. (UniCredit CZ&SK) under the EUR 60 million extension of the Slovak Sustainable Energy Finance Facility - SlovSEFF III. The extension of SlovSEFF III will be considered for approval by the EBRD Board of Directors on 8 June 2016.

Subject to Board approval this will be the first credit line provided to UniCredit CZ&SK under SlovSEFF III.

UniCredit CZ&SK operates a single bank in the Czech and Slovak markets. Business in the Slovak Republic is operated as a foreign branch of UniCredit Bank Czech Republic and Slovakia, a.s. The loan documentation will therefore limit the use of proceeds to the Slovak Republic only.

Project Objectives

This EBRD credit line will allow UniCredit CZ&SK to provide sub-loans to companies and borrowers from the residential sector (housing associations) for energy efficiency and renewable energy investments in the Slovak Republic. It will also enable UniCredit CZ&SK to provide financing in the Slovak Republic for sustainable energy projects with a focus on reducing greenhouse gas emissions and on assisting in mitigating high energy and carbon intensity in the region.

Transition Impact

Transition impact is expected from the following:

1. Financing: The credit line will demonstrate the benefits of energy conservation and promote the expansion of energy efficiency and renewable energy lending in the Slovak Republic. It will demonstrate the positive effects of rational energy utilisation and reduction of greenhouse gas (GHG) emissions. Incentives to end-borrowers (not to include housing associations) will be
calculated based on a project's annual potential for teh reduction of GHG emission.

2. Skills transfer: The project is also expected to transfer and build expertise, at UniCredit CZ&SK and sub-borrowers, related to sustainable energy investments. UniCredit CZ&SK will build capacity for identifying sustainable energy opportunities as well as for assessing the risk and creditworthiness of clients for energy efficiency and renewable energy loans. Sub-borrowers are expected to become more familiar with EBRD requirements for providing such loans.

Client Information

UNICREDIT BANK CZECH REPUBLIC AND SLOVAKIA, A.S.

UniCredit Bank Czech Republic and Slovakia has a unique model operating a single universal bank in two markets (Czech Republic and Slovak Republic). The bank is competing with the largest, predominantly retail banks in both markets (Slovenska sporitelna, VUB and Tatra banka in Slovakia; CSOB, Komercni banka and Ceska sporitelna in Czech Republic), and is one of the leaders in the corporate sector.

UniCredit CZ&SK has more than 220,000 clients in the Slovak Republic (540,000 clients in the Czech Republic and the Slovak Republic together), 10 regional corporate client centres (31 in total), 73 branches (225 in total), 156 ATMs (382 in total) and 1,163 employees (3,093 in total). It is 99.94% owned by UniCredit Bank Austria AG.

EBRD Finance Summary

EUR 20,000,000.00

EUR 20 million senior loan facility.

Total Project Cost

EUR 20,000,000.00

Total project cost of EUR 20 million equals to the EBRD's overall exposure to UniCredit CZ&SK under SlovSEFF III of EUR 20 million.

Environmental and Social Summary

Categorised FI: UniCredit CZ&SK will be required to comply with the requirements of PR2 and PR9 and Sub-borrowers financed through the facility will be required to comply with national requirements for environment, health and safety and labour standards and the EBRD eligibility criteria for Energy Efficiency projects. This will be confirmed by the Project Consultant hired by the EBRD to cover this issue. UniCredit CZ&SK will be required to continue to submit Annual Environmental and Social Reports to the EBRD.

Technical Cooperation

Technical cooperation will be funded by Spain. Consultants have been contracted by EBRD to provide beneficiaries with project design and implementation support as well as to verify the completion of sub-projects against set criteria and advise their eligibility for incentive payments.

Company Contact Information

Klara Popelakova, Product Manager
klara.popelakova@unicreditgroup.cz
+420 955 961 144
+420 955 911 111
http://www.unicreditbank.sk/en/About-bank
UniCredit Bank Czech Republic and Slovakia, a.s. Zeletavská 1 140 92 Praha 4 - Michle

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

Share this page: