<div><h2>Project Description</h2><p></p><p>A senior unsecured loan of up to €15 million under the Financial Intermediaries Framework ("FIF"). </p><p></p><h2>Project Objectives</h2><p></p><p>The transaction is envisaged to provide financing for on-lending to local SMEs for capital expenditure, primarily equipment and vehicles in line with the FIF Policy Statement.</p><p></p><h2>Transition Impact</h2><p>ETI score: 60</p><p style="margin-top: -13px;"></p><p>The project contributes to the objectives of the FIF, supporting the <strong>Competitive</strong> and <strong>Resilient</strong> transition qualities. FIF seeks to (i) foster SME competitiveness by increasing availability of financing and (ii) contribute to the competitiveness of financial institutions by enabling innovation in strategy, products, processes and marketing related to SME segment. By ensuring that financial institutions have adequate underwriting and risk management practices in place, the FIF also seeks to encourage sustainable lending practices, supporting the resilience of the financial system.</p><p></p><h2>Client Information</h2><p>RAIFFEISEN LEASING DOO SARAJEVO</p><p style="margin-top: -13px;"></p><p>Raiffeisen Leasing doo ("RL)" is the second largest leasing provider in BiH, holding a market share of 27 per cent in terms of total assets (as of end-3Q 2023). The principal activity of RL is leasing of vehicles and equipment through finance and operating leases. Established in 2004, RL operates solely in BiH and is based out of Sarajevo.</p><p></p><h2>EBRD Finance Summary</h2><p>										EUR 15,000,000.00									</p><h2>Total Project Cost</h2><p>										EUR 15,000,000.00									</p><h2>Additionality</h2><p></p><p>Additionality is achieved by the financing structure of the project which optimizes RL's funding structure and enables it to more effectively manage maturity gaps on the balance sheet.</p><p></p><h2>Environmental and Social Summary</h2><p></p><p>Categorised FI (ESP 2019). RL is an existing client and will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9; adopt and implement the EBRD's E&amp;S Risk Management Procedures for Leasing Companies, including adherence to the EBRD E&amp;S Exclusion List and Referral List ESP 2019; and submit Annual Environmental and Social Reports to the Bank on compliance with the applicable Performance Requirements and any other E&amp;S matters arising during the year. Sub-lessees financed through RL will also be required to comply with national environmental, health, safety and labour (EHSL) requirements. If EBRD funding will be used for financing solar PV technologies, these will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach.</p><p></p><h2>Technical Cooperation and Grant Financing</h2><p></p><p>None.</p><p></p><h2>Company Contact Information</h2><p>Larisa Maslo-Baljo<br/>larisa.maslo-baljo@raiffeisengroup.ba<br/>+387 (0) 61 234 567<br/>https://www.rlbh.ba/<br/>Zmaja od Bosne bb, 71000 Sarajevo, Bosnia and Herzegovina<br/></p><h2>PSD last updated</h2><p>24 Apr 2024</p><div id="docsLinks" style="display:none"><h2>Related material</h2><ul class="relMat"></ul></div><script type="text/javascript">						var projFinderService = '/project-finder-json?1=1';						var projectId = "55337";					</script><h2>	Understanding Transition</h2><p>	Further information regarding the EBRD’s approach to measuring transition impact is available <a href="https://www.ebrd.com/what-we-do/economic-research-and-data/transition-impact.html">here</a>.</p><h2>	Business opportunities</h2><p>	For business opportunities or procurement, contact the client company.</p><p>	For business opportunities with EBRD (not related to procurement) contact:</p><p>	Tel: +44 20 7338 7168<br/>	Email: <a href="mailto:projectenquiries@ebrd.com">projectenquiries@ebrd.com</a></p><p>	For state-sector projects, visit <a href="https://www.ebrd.com/pages/workingwithus/procurement.shtml">EBRD Procurement</a>:<br/><br/>	Tel: +44 20 7338 6794<br/>	Email: <a href="mailto:procurement@ebrd.com">procurement@ebrd.com</a></p><h2>	General enquiries</h2><p>	Specific enquiries can be made using the <a href="https://www.ebrd.com/eform/information-request">EBRD Enquiries form</a>.</p><h2>	Environmental and Social Policy (ESP)</h2><p>	The <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">ESP</a> and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social 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 additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.</p><p>	More information on the EBRD’s practices in this regard is set out in the <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">ESP</a>.</p><h2>	Integrity and Compliance</h2><p>	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 activities of the Bank 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 Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.</p><p>	OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to <a href="mailto:compliance@ebrd.com">compliance@ebrd.com</a>. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. 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.</p><h2>	Access to Information Policy (AIP)</h2><p>	The AIP 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 following its entry into force on 1 January 2020. Please visit the <a href="https://www.ebrd.com/what-we-do/strategies-and-policies/public-information-policy.html">Access to Information Policy</a> page to find out what information is available from the EBRD website.</p><p>	Specific requests for information can be made using the <a href="https://www.ebrd.com/eform/information-request">EBRD Enquiries form</a>.</p><h2>	Independent Project Accountability Mechanism (IPAM)</h2><p>	If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. 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).</p><p>	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 <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">Environmental and Social Policy</a> or Project-specific provisions of its <a href="https://www.ebrd.com/what-we-do/strategies-and-policies/access-to-information-policy.html">Access to Information Policy</a>; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.</p><p>	Please visit the <a href="https://www.ebrd.com/project-finance/independent-project-accountability-mechanism.html">Independent Project Accountability Mechanism webpage</a> to find out more about IPAM and its mandate; how to <a href="https://www.ebrd.com/eform/IPAM/Request_form">submit a Request</a> for review; or contact IPAM  via email <a href="mailto:ipam@ebrd.com">ipam@ebrd.com</a> to get guidance and more information on IPAM and how to submit a request.</p><p>	 </p></div>

FIF - Raiffeisen Leasing - SME loan

A senior unsecured loan of up to EUR15 million under the Financial Intermediaries Framework FIF. The transaction is envisaged to provide financing for on-lending to local SMEs for capital expenditure, primarily equipment and vehicles in line with the FIF Policy Statement.ETI score: 60The project contributes to the objectives of the FIF, supporting the and transition qualities. FIF seeks to i foster SME competitiveness by increasing availability of financing and ii contribute to the competitiveness of financial institutions by enabling innovation in strategy, products, processes and marketing related to SME segment. By ensuring that financial institutions have adequate underwriting and risk management practices in place, the FIF also seeks to encourage sustainable lending practices, supporting the resilience of the financial system.RAIFFEISEN LEASING DOO SARAJEVORaiffeisen Leasing doo RL is the second largest leasing provider in BiH, holding a market share of 27 per cent in terms of total assets as of end-3Q 2023. The principal activity of RL is leasing of vehicles and equipment through finance and operating leases. Established in 2004, RL operates solely in BiH and is based out of Sarajevo.EUR 15,000,000.00EUR 15,000,000.00Additionality is achieved by the financing structure of the project which optimizes RL's funding structure and enables it to more effectively manage maturity gaps on the balance sheet.Categorised FI ESP 2019. RL is an existing client and will be required to continue to comply with EBRD's Performance Requirements PRs 2, 4 and 9; adopt and implement the EBRD's ES Risk Management Procedures for Leasing Companies, including adherence to the EBRD ES Exclusion List and Referral List ESP 2019; and submit Annual Environmental and Social Reports to the Bank on compliance with the applicable Performance Requirements and any other ES matters arising during the year. Sub-lessees financed through RL will also be required to comply with national environmental, health, safety and labour EHSL requirements. If EBRD funding will be used for financing solar PV technologies, these will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' CSFO21-35 and any subsequent guidance developed under that approach.None.Larisa Maslo-Baljolarisa.maslo-baljoraiffeisengroup.ba+387 0 61 234 567https:www.rlbh.baZmaja od Bosne bb, 71000 Sarajevo, Bosnia and Herzegovina24 Apr 2024Further information regarding the EBRD's approach to measuring transition impact is available here.For business opportunities or procurement, contact the client company.For business opportunities with EBRD not related to procurement contact:Tel: +44 20 7338 7168Email: projectenquiriesebrd.comFor state-sector projects, visit EBRD Procurement:Tel: +44 20 7338 6794Email: procurementebrd.comSpecific enquiries can be made using the EBRD Enquiries form.The ESP and the associated Performance Requirements PRs set out the ways in which the EBRD implements its commitment to promoting "environmentally sound and sustainable development".  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders' concerns and grievances, in particular, about environmental and social 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 additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from 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.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 activities of the Bank 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 Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to complianceebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. 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.The AIP 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 following its entry into force on 1 January 2020. 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.If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful e.g. 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 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; how to submit a Request for review; or contact IPAM  via email ipamebrd.com to get guidance and more information on IPAM and how to submit a request.

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