In its effort to boost energy efficiency in Eastern Europe, the European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, recently loaned EUR 15 million (USD 21.6 million) to BZ WBK Finance & Leasing, a subsidiary of Polish leasing company Bank Zachodni WBK, that provides medium- and long-term leasing to small and medium-sized enterprises (SMEs).
Part of EBRD’s EUR 150 million (USD 216 million) Poland Sustainable Energy Financing Facility (“PolSEFF”), the loan will enable BZ WBK Finance & Leasing to lend to local SMEs to invest in “industrial energy efficiency improvements, energy efficiency and/or renewable energy measures in commercial buildings and small-scale renewable energy production”. As of 2009, BZ WBK Finance and Leasing reported total paid-up share capital of USD 15.5 million.
As of 2011, EUR 1.2 billion (USD 1.73 billion) has been committed by EBRD’s Sustainable Energy Financing Facilities through 35 banks in 15 EBRD countries across Eastern Europe and Central Asia. In Poland, EBRD has invested approximately EUR 4.5 billion (USD 6.5 billion) in various sectors of the economy.
By Medha Ravi, Research Associate
About the European Bank for Reconstruction and Development:
The European Bank for Reconstruction and Development (EBRD) is a development finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe and Central Asia. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). Its operating assets for fiscal 2009 were reportedly EUR 6.1 billion (USD 8 billion).
About BZ WBK Finance & Leasing:
Established in 1998, BZ WBK Finance and Leasing is a subsidiary of Bank Zachodni WBK SA, a Poland-based commercial bank. BZ WBK Finance and Leasing specializes in leasing machines, computers and office equipment in addition to offering leasing services for doctors and veterinarians. As of 2009, BZ WBK Finance and Leasing reported total paid-up share capital of USD 15.5 million.
Source and Resources:
European Bank for Reconstruction and Development (EBRD) press release, “EBRD boosting energy efficiency in Polish enterprises”, http://www.ebrd.com/english/pages/news/press/2011/110408.shtml
MicroCapital.org story, March 1, 2011, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), Crédit Agricole Serbia Accept Warehouse Receipts as Collateral for $27m in Loans to Agribusinesses https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-credit-agricole-serbia-accept-warehouse-receipts-as-collateral-for-27m-loans-to-agribusinesses/
MicroCapital.org story, February 1, 2011, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $3m to Mol Bulak Finance of the Kyrgyz Republic for On-Lending to Small and Medium Enterprises (SMEs)”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-loans-3m-to-mol-bulak-finance-of-the-kyrgyz-republic-for-on-lending-to-small-and-medium-enterprises-smes/
MicroCapital’s Microfinance Universe Profile: European Bank for Reconstruction and Development (EBRD), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29
MicroCapital’s Microfinance Universe Profile: BZ WBK Finance and Leasing, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BZ+WBK+Finance+and+Leasing
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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