38099 - Zachodni WBK

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Summary of Investment Information

Project Number

38099

Company Name

SANTANDER LEASING S.A.

Date SPI Disclosed

May 17, 2016

Country

Poland

Region

Europe

Projected Board Date

Jun 20, 2016

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Oct 15, 2022

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Jul 19, 2016
Signed : Aug 1, 2016
Invested : Aug 10, 2016

Sector

Commercial Banking - SME Finance

Project Description

The proposed project supports BZ WBK Leasing S.A. (“BZ WBK Leasing”) and/or BZ WBK Lease S.A. (“BZ WBK Lease”) (collectively, the “Companies”) with a senior loan which will be earmarked for women entrepreneurs and for MSMEs in less developed regions in Poland (the “Project”).

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	150.0
Equity

Development Impact

IFC's additionality in this Project will be based on: (i) IFC's ability to provide long term funding which will help the Companies to diversify their sources of funds away from the parent bank, manage their maturity gaps, and extend long term financing to their clients. (ii) IFC's guidance on the enhancement of E&S standards, which will complement the Companies' existing E&S procedures.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
CORE - E and S Management Systems (Y/N)	Compliance/Enhancement		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The Project consists of an up to US$150 million equivalent (in EUR or US$) to BZ WBK Leasing and/or BZ WBK Lease, subsidiaries of Bank Zachodni WBK, the third largest bank in Poland, to increase financial inclusion to MSMEs in less developed regions in Poland and to women-owned MSMEs. The Companies provide financial services in sectors such as manufacturing, agriculture, transport, distribution with the average amount per transaction being less than US$50K.The Companies’ portfolios include projects with mainly potentially limited adverse E&S risks and impacts that are generally site-specific, largely reversible and readily addressed through mitigation measures. The Project has therefore been categorized as FI-2 in accordance with the IFC's Sustainability Framework. The clients will be required to comply with the IFC Exclusion List and Polish E&S laws and regulations.

The main E&S risks and impacts of the Project derive from the E&S risks of the Companies’ financing activities and their capacity to manage such risks. The Companies have committed to enhance the existing E&S management system (ESMS) commensurate with their financing activities to achievement compliance with the IFC’s requirements. They will also appoint an E&S officer to oversee the ESMS implementation, including providing ongoing training to its staff. The Companies’ labor practices were found to be consistent with the requirements of IFC Performance Standard 2 on Labor and Working conditions.

Contacts

For Inquiries About the Project, Contact

BZ WBK Leasing S.A.
Chlebowa st. 4/8
Poznan
Poland

BZ WBK Lease S.A.
Chlebowa st. 4/8
Poznan
Poland

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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Task Title & Description	Anticipated Completion Date
Nominate officers	06/28/2016
Staff Training	06/30/2016
Enhance E&S Management System	06/30/2016
Submit ESMS implementation report	12/30/2016

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