ebrd-italy western balkans local enterprise facility (wb lef) marek lorinc
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EBRD-ITALY EBRD-ITALY Western Balkans Local Enterprise Facility Western Balkans Local Enterprise Facility
(WB LEF) (WB LEF)
Marek LorincMarek Lorinc
WB LEFWB LEF
EUR 65 million ‘proprietary fund’ established in April 2006 Aimed at filling the gap of financing growing local
businesses, currently not sufficiently supported by other financing sources.
Financial contribution and support provided by the Italian Government funds.
WB LEF operates on a strictly commercial basis, seeking returns commensurate to underlying risks.
Managed by the team of dedicated bankers in EBRD’s offices in Tirana, Sarajevo, Prishtina, Skopje, Podgorica and Belgrade.
WB LEFWB LEF
Rationale:
Focus on higher risk-reward expansion/ rehabilitation investment of SMEs in the Western Balkans (Albania, Bosnia-Herzegovina, Kosovo, Macedonia, Montenegro and Serbia).
Mainly equity and quasi-equity financing of smaller projects which so far were not eligible for direct financing.
WB LEFWB LEF
Eligible investments:
Private local enterprises.
Manufacturing and services.
Nationality of the owners not relevant.
All sectors, except weapons, alcohols and tobacco.
WB LEFWB LEF
Salient Features: Amount of Investment: to a maximum of EUR 8 million Minority participation (up to 49.9%) in local companies. 3 to 8 years holding period. Realistic exit route with at least one alternative. Funds may be used for the purchase of tangible and
intangible assets and partially to finance working capital requirements.
EBRD representative may sit on the board of directors of investee companies.
WB LEFWB LEF
So far invested in 11 projects in:– agribusiness,
– wood processing,
– financial institutions,
– construction materials, and
– property management.
Strong pipeline expect to complete at least 10 projects in all countries totalling over EUR 40 million by the end of 2008.
WB LEFWB LEF
Team Contact Details:Marek Lorinc, Marek Lorinc, Operational Leader of the WB LEF,Operational Leader of the WB LEF, Podgorica tel: Podgorica tel:
+382 81 235190, +382 81 235190, [email protected]@EBRD.com
Fabio Serri, Prishtina, tel: Fabio Serri, Prishtina, tel: +389 2 3297 800, [email protected]+389 2 3297 800, [email protected]
Rijad Hasic, Sarajevo, tel: +387 33 667 945, [email protected] Hasic, Sarajevo, tel: +387 33 667 945, [email protected]
Vlado Bojadzievski, Skopje, tel: Vlado Bojadzievski, Skopje, tel: +389 2 3297 800, +389 2 3297 800, [email protected]@ebrd.com
Ervin Luga, Tirana, tel: +355 4 232 898, [email protected] Ervin Luga, Tirana, tel: +355 4 232 898, [email protected]
Jelena Celenkovic, tel: +382 11 212 0530, Jelena Celenkovic, tel: +382 11 212 0530, [email protected]@ebrd.com
www.ebrd.com www.ebrd.com