📋 Tender Overview
Location:
Poland
Project number:
56023
Business sector:
Financial institutions
Notice type:
Private
Approval date:
18 Mar 2025
Status:
In Exploratory, Pending Final Review
English-language PSD published:
10 Mar 2025
Project Description
The provision of a senior secured loan of up to € 10 million (or PLN equivalent) to PragmaGo S.A. under the Financial Intermediaries Framework ("Framework").
Project Objectives
PragmaGo will use the loan's proceeds to extend financing to an underserved segment of the private sector, namely micro, small and medium-sized enterprises ('MSMEs') in Poland, thanks to its innovative online product suite offering fast and convenient access to funding.
Transition Impact
ETI score: 64
The project will support the Framework qualities by helping the Company expand its MSME portfolio, launch innovative MSME funding solutions and will support the Company's increased resilience by ensuring prudent lending practices as well as high industry accepted standards for cyber resiliency and higher cybersecurity.
Client Information
PRAGMAGO SA
PragmaGo S.A. is one of the largest independent Polish FinTech lending companies operating in the MSMEs segment.
EBRD Finance Summary
EUR 10,000,000.00
Total Project Cost
EUR 10,000,000.00
Additionality
The EBRD's participation in the proposed transaction is expected to be highly additional in light of the difficulty for Polish MSMEs to obtain funding:
(i) Offering a financing structure that is not available in the market from commercial sources on reasonable terms and conditions. The EBRD's proposed loan to obtain stable funding and diversify its funding sources.
(ii) High standard-setting whereby the client seeks/makes use of the EBRD expertise for the adoption of gender standards and/or equal opportunities action plans.
Environmental and Social Summary
PragmaGo will be required to comply with Environmental and Social Requirements (ESRs) 2, 4 and 9, maintain a Environmental and Social Management System commensurate to the level of risks of the sub-operations, and adherence to the Environmental and Social exclusion list. PragmaGo will continue to submit annual E&S reports to the Bank on E&S performance and compliance with ESRs.
