Skip to content
AidData logo

Overview

ICBC (Europe) Warsaw Branch provides a zł200 million PLN loan to Pekao Leasing for business development purposes

Commitments (Constant USD, 2023)$52,909,427
Commitment Year•2020Country of Activity•PolandDirect Recipient Country of Incorporation•PolandOverseas Jurisdiction•PolandSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 13, 2020

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

This loan provided funds to Pekao Leasing Sp. z o.o. for business development purposes, which is headquartered at Żubra 1, 01-066 Warsaw. More detailed locational information can be found at: https://www.openstreetmap.org/way/923445778.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (Europe) S.A. (ICBC (Europe))

Receiving agencies

Private Sector

  • Pekao Leasing Sp. z o.o.

Guarantors

Private Sector

  • Bank Polska Kasa Opieki Spółka Akcyjna (Bank Pekao S.A.)

Loan description

ICBC (Europe) Warsaw Branch provides a zł200 million PLN loan to Pekao Leasing for business development purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On or prior to February 13, 2020, the Warsaw Branch of the Industrial and Commercial Bank of China (Europe) S.A. (ICBC (Europe)) entered into a zł200 million PLN (€50 million EUR) loan agreement with Pekao Leasing Sp. z o.o. — a Polish leasing company and subsidiary of Bank Polska Kasa Opieki Spółka Akcyjna (Bank Pekao S.A.), a Polish bank listed on the Warsaw Stock Exchange — for business development purposes. Bank Pekao arranged the loan and issued a guarantee for it. This was the first ICBC loan for a leasing company in Poland. The proceeds were to be used by the borrower for business development purposes, allowing it to finance leasing for Polish entrepreneurs including flexible leasing for small and medium enterprises (SMEs).