GCF GEFF Regional - Serbia - S Leasing

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a senior loan of up to EUR 10 million under the GCF GEFF (Global Climate Fund and Western Balkans Green Economy Financing Facility), whereby EBRD will provide EUR 7.5 million and GCF GEFF remaining EUR 2.5 million. The loan will be fully guaranteed by the Erste Group.

Project ID 53856

Status Disbursing

Location

Serbia

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Olivera Nikolic
ONikolic@s-leasing.rs
+381 11 20 10 748
www.s-leasing.com
Milutina Milankovica 3a/VII sprat 11070 Novi Beograd, Srbija

Project ID 53856

Status Disbursing

Location

Serbia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

08 Nov 2022

Disclosure date

01 Nov 2022

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

GCF GEFF Regional - Serbia - S Leasing (Serbian) (PDF, 0.64MB)

Project description

Project objectives

The loan will support investments in high-performance green technologies, materials and solutions. 100 per cent of the use of the proceeds will be related to Green Economy Transition ("GET") investments.

Transition impact

ETI Score:65

ject contributes to the objectives of the GCF-GEFF Regional Framework, supporting the Green TI quality, with 100% of the use of proceeds allocated to GET activities.

The project will also contribute to its objective of support building a green economy in the Republic of Serbia by facilitating the accelerated market penetration of climate technologies, particularly focusing on promotion of renewable energy/energy efficiency/climate resilient technologies including solar PV, solar thermal, geothermal heat pumps and biogas technologies.

Client information

ERSTE LEASING DOO BEOGRAD

S-Leasing Beograd ("SLS") is one of the leading financial leasing companies in Serbia, majority owned by Erste Bank Serbia. SLS had total assets of EUR 144.1m as of end-1H2022 and is ranked as the 4th out of 16 leasing providers on the market by total assets. SLS provides financial and operating leasing services for a full range of assets, with a main focus on vehicles, both passenger and commercial, but also construction machinery and equipment.

EBRD Finance Summary

EUR 7,500,000.00

Total project cost

EUR 10,000,000.00

Additionality

EBRD offers a tenor, which is above the market average and is necessary to structure the project and offers innovative green financing instrument.

Environmental & Social Summary

Categorised FI (ESP 2019): S Leasing d.o.o. Beograd is a new client to the Bank and is a small scale financial leasing subsidiary of Erste Bank Serbia which is a long standing client of EBRD. S Leasing completed an ESDD questionnaire demonstrating they are in compliance with PR2 and PR4 however they need to establish an E&S management proportionate to the scale of their business activities and E&S risks to comply with PR9 and EBRD's Environmental & Social (E&S) Procedures for Leasing and in additional undertake the FI eLearning. The Project's use of proceeds may include solar sub-projects. Such sub-projects will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35), (CS/FO/21-35 (Add 2)) and any subsequent guidance developed under that approach. The GET share is 100%.

Technical Cooperation and Grant Financing

Project is supported by the technical cooperation package provided by the Green Climate Fund and the Government of Luxembourg. The objective of the TC is to assist SLS with capacity building, implementation and monitoring of the programme.

Company Contact Information

Olivera Nikolic
ONikolic@s-leasing.rs
+381 11 20 10 748
www.s-leasing.com
Milutina Milankovica 3a/VII sprat 11070 Novi Beograd, Srbija

PSD last updated

20 May 2024

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, 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 the 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 more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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GCF GEFF Regional - Serbia - S Leasing

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)