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FIF – Green mortgage to ProCredit Holding AG & Co. KGa. The project plays a part in the objectives for the FIF, supporting the Competitive and Resilient changeover traits.

FIF – Green mortgage to ProCredit Holding AG & Co. KGa. The project plays a part in the objectives for the FIF, supporting the Competitive and Resilient changeover traits.

Approved

As permitted by paragraph 2.6 of part III from the Access to Information plan, disclosure of this PSD was actually deferred prior to section 1.4.4 for the Directive on Access to info.

Task Story

The project will help PCH to meet up with raising clients demand for green financing in view and offer essential capital to invest in the continued growth of the its green mortgage collection (CAGR of 34per cent over 2016 – 2019). Because would be required in plan report, EBRD funding will be utilized by Computer Serbia and PC Romania to extend financial loans to local SMEs on the basis of the goals regarding the FIF.

Project Objectives

Elderly unsecured phase mortgage as high as EUR 20 million to PCH for on-lending to qualified Sub-borrowers by ProCredit Serbia (“PC Serbia”) and ProCredit Romania (“PC Romania”). The Borrower will carry out to ensure that the quantity of this facility (i.e. EUR 20 million) will be on-lent by Computer Serbia and PC Romania to qualified sub-borrowers within a two-year stage, good eligibility standards under PS. The financing will be aligned with the ProCredit carrying Green connect framework including aided by the EBRD attain method. The EBRD investments will help companies developing and SME lending in Serbia and Romania on the basis of the objectives associated with Financial Intermediaries platform (“FIF”).

Changeover Effects

Your panels plays a part in the objectives of FIF, giving support to the Competitive and resistant changeover traits. FIF aims to:

(i) Foster SME competitiveness by payday loans with no credit check Ohio growing option of funding; and subscribe to the competition of finance institutions by allowing development in method, items, procedures and advertisements linked to SME lending.

(ii) By ensuring that finance companies and other finance institutions have sufficient underwriting and issues management ways in position, the FIF additionally seeks to promote lasting financing techniques, supporting the strength with the financial system.

Clients Information

PROCREDIT CARRYING AG & CO KGAA

ProCredit Holding AG & Co. KGaA (the “Company”, “PCH”), a collaboration limited by companies integrated in Germany. PCH are a banking team centering on financing SMEs, with diversified businesses via 12 banking subsidiaries, regarding which 93percent of loan collection is situated in South-Eastern Europe (70percent) (“SEE Region”) and Eastern European countries (23%) – coinciding with 10 EBRD region of functions. The rest of operations are located in South America i ProCredit financial Ecuador (6%) and Germany (1%).

EBRD Financing Summary

Complete Venture Expenses

Additionality

The lender was further due to its conditions: (i) the lender’s service represents crucial in successfully appointment PCH’s developing clients demand for green financing, and (ii) in providing sufficient savings for PCH to expand the SME credit functions. Features: EBRD provides considerable expertise in supporting the SME financing and is a seasoned person in GET-eligible financing of finance institutions; Conditionalities: EBRD’s profits should be channelled towards financing SMEs in view Countries.

Ecological and Social Summary

Categorised FI (2014 ESP). ProCredit try a current clients toward financial and will continue to comply with EBRD’s overall performance specifications 2, 4 and 9, like the application of an adequate green and personal hazard administration system (ESMS), adherence on E&S issues Management Procedure for Micro, SME and Corporate Lending, also EBRD’s environment and Social Eligibility requirements for Wind, Solar, Biomass, Hydro and Geothermal Energy, as relevant. The ESMS might applied at each part and addresses 3 pillars: interior ecological control, management of green and social threats in lending and eco-friendly financing. ProCredit’s current Green task profile is actually application. EUR 874 million and also grown 34% CAGR in 2016-2019 and further 10per cent in 1H2020. The arrangement between ProCredit and EBRD would include dedication to allocate the EBRD financial total the SEE Countries to increase brand-new financing to regional SMEs. Your panels are similar to the attain means and GET share are 100%.

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