📋 Tender Overview
Location:
Serbia
Project number:
56001
Business sector:
Financial institutions
Notice type:
Private
Environmental category:
FI
Approval date:
29 Jan 2025
Status:
Exploratory
English-language PSD published:
11 Dec 2024
Project Description
Provision of a senior loan in the amount of up to €40 million, under the the WB Green Outcomes-Linked Debt Financing Framework ("GOLD" or the "Framework"), to Unicredit Leasing Serbia ("UCL"). The loan will be fully guaranteed by UniCredit Bank Serbia ("UCB").
Project Objectives
The proceeds of the Bank's investment will be used for providing leases to eligible small and medium-sized enterprises (SMEs) and Midcaps in Serbia in support of their business expansion and Green Economy Transition ("GET") eligible investments. At least 30% of the total investment will be GET eligible.
Transition Impact
The project contributes to the objectives of GOLD, supporting the Competitive and Green transition qualities. GOLD seeks to foster SME Competitiveness by (i) increasing availability of financing; and (ii) encouraging innovation in strategy, products and processes. Furthermore, the project will encourage Green quality by scaling up investments into GET-eligible technologies by SMEs and Midcaps, and thereby contributing to building a low-carbon and climate resilient economy.
Client Information
UNICREDIT LEASING SERBIA DOO
UCL is leasing company in Serbia with €193 million in total assets and with a market share of 11.6%, measured by total assets as at Q3 2024. It is one of the most active EBRD partner leasing companies in Serbia, with a proven ability to channel the EBRD's funds to targeted economic segments efficiently.
EBRD Finance Summary
EUR 40,000,000.00
Total Project Cost
EUR 40,000,000.00
Additionality
Additionality of the projects stems from the following: the EBRD offers an innovative green finance instrument which introduces outcome-based incentives to stimulate the financial sector to increase green finance to SMEs an Midcaps in an institutionalised way while supporting general financing needs by SMEs, which will help setting improved standard to enhance their green lending practice. Additionality is also achieved by the necessary longer-term financing, which is not available from commercial sources.
Environmental and Social Summary
Categorised FI (ESP 2019). UCL is an existing client of the Bank and its environmental and social (E&S) performance to date under existing exposures has been satisfactory. UCL should maintain its environmental and social management system to assess, manage and monitor environmental and social risks and impacts associated with the sub-projects it finances. UCL is required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, including the EBRD's E&S Exclusion and the Referral list in the EBRD's E&S Policy 2019, continue to implement the applicable EBRD's E&S Risk Management guidance and submit A
