Project description
The establishment of a Western Balkans Green Economy Finance Facility III (“WB GEFF III”, the “Facility” or the “Program”) in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia (collectively, the “Western Balkans”). or the “WB”) for total financing of up to €170 million to eligible partner financial institutions (PFIs) for the financing of green investments in the residential and public sector, in line with the transition approach to a green economy (“GET”) of the Bank. The Facility is supported by technical cooperation (“TC”) and incentive payments, as envisaged under the Green Economy Financing Facility (“GEFF”) framework.
the project’s objectives
The project aims to support green economy investments in eligible energy efficiency and renewable energy measures under the GET approach. The program builds on the momentum created to date under the ongoing Western Balkans Green Economy Financing Mechanisms I and II by expanding the final beneficiaries to construction companies for the construction of high-performance residential buildings energy eligible for the GET and the public sector to accelerate the green transition of the economy. at the market level in the region.
Impact of the transition
ETI score: 70
The facility contributes to the quality of Green TI by helping to address the high energy and carbon intensity of the residential and public sectors in the Western Balkans region by developing the capacity of local PFIs to provide green loans that boost the Western Balkans transition towards a sustainable, weaker environment. -a carbon and climate resilient green economy. All funding allocated to IFPs under this framework must be used for projects eligible for 100% of the GET.
Customer information
PFIs will be local financial institutions (commercial banks, microfinance institutions and other credit institutions) established and operating in the Western Balkan countries.
EBRD Financial Summary
120,000,000.00 euros
Up to 170,000,000 euros
Total project cost
170,000,000.00 euros
Up to 170,000,000 euros
Additionality
Additionality is achieved by combining the necessary long-term financing, which is not available from commercial sources to finance green investments, with technical support, targeted investment incentives and policy dialogue in a package that promotes investments in the green economy in the residential and public sectors. The EBRD remains the only IFI in the region to comprehensively support green investments in targeted sectors. WBGEFF III also aims to introduce a modular approach to gender additionality.
Environmental and social summary
Categorized FIs (ESP 2019): It is expected that PFIs under this framework who are existing clients of the Bank will already be familiar with the EBRD E&S requirements applicable to FIs. Any new PFI that may participate in this framework will be required to complete the E&S due diligence questionnaire which will be returned to the ESD for review. Recipients funded under this facility will be required to comply with national environmental, health, safety and labor standards requirements, as well as E&S eligibility criteria for solar, hydroelectric, wind, bioenergy and geothermal energy, where applicable, as well as other GET eligibility criteria. in accordance with the GET policy statement. This will be confirmed to IFPs by a facilities consultant engaged by the EBRD. All PFIs under the framework will be required to comply with EBRD Performance Requirements 2, 4 and 9, adopt and implement EBRD E&S risk management procedures for loans to micro-enterprises, SMEs and corporates and submit annual environmental and social reports to the Bank, including reports on sub-projects and their GET benefits.
Technical cooperation and subsidies
The Facility will be supported by a donor-funded technical cooperation program of up to €6.4 million, implemented by a Facility consultant. The initial amount of €4.5 million in TC is provided by the European Union (EU) through the Western Balkans Investment Framework (WBIF) and by the Japanese government through the Cooperation Fund Japan-EBRD.
Company details
N / A
PSD latest update
May 4, 2022
Understanding the transition
More information on the EBRD’s approach to measuring the impact of the transition is available. here.
Professional opportunities
For business opportunities or purchases, contact the client company.
For business opportunities with the EBRD (non-purchase related), contact:
Tel: +44 20 7338 7168
E-mail: projectenquiries@ebrd.com
For public sector projects, visit EBRD purchases:
Tel: +44 20 7338 6794
E-mail: Procurement@ebrd.com
General Information
Specific requests can be made using the EBRD Inquiry Form.
Environmental and Social Policy (PSE)
THE ESP and associated Performance Requirements (PRs) define how the EBRD implements its commitment to promoting “sustainable and environmentally sound development”. The ESP and PR include specific provisions to enable customers to comply with the applicable requirements of national laws on public information and consultation as well as to establish a complaints mechanism to receive and facilitate the resolution of concerns and complaints. stakeholder grievances, particularly regarding environmental and social performance of the client and the project. Proportionate to the nature and scale of the environmental and social risks and impacts of a project, the EBRD further requires its clients to disclose information, where appropriate, on the risks and impacts arising from projects or undertake meaningful consultations with stakeholders and review and respond to their feedback.
Further information on the EBRD’s practices in this regard is presented in the ESP.
Integrity and Compliance
The EBRD’s Office of the Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank’s activities, in line with international best practices. Integrity due diligence is conducted on all clients of the Bank to ensure that projects do not pose unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the approval stages of project appraisal is the most effective way to ensure the integrity of the Bank’s transactions. OCCO plays a key role in these protection efforts and also helps monitor integrity risks in projects post-investment.
OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-funded projects. Any person, both inside and outside the Bank, who suspects fraud or corruption should submit a written report to the Compliance Officer by email to the following address: conformity@ebrd.com. All reported issues will be handled by OCCO for follow-up. All reports, including anonymous reports, will be investigated. Reports may be written in any language of the Bank or the Bank’s countries of operations. The information provided must be made in good faith.
Access to Information Policy (AIP)
The AIP sets out how the EBRD discloses information and consults with its stakeholders to promote greater knowledge and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please see the Access to information policy to find out what information is available on the EBRD website.
Specific requests for information can be made using the EBRD Inquiry Form.
Independent Project Accountability Mechanism (IPAM)
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 organizations can seek to address their concerns through the EBRD complaints mechanism. Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews issues relating to the Project that have caused (or are likely to cause) harm. The objective of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; determine whether the Bank has complied with its Environmental and social policy or Provisions specific to the project of its Access to information policy; and, where applicable, remedy any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to learn more about IPAM and its mandate; how Submit a request for evaluation; or contact IPAM by email ipam@ebrd.com for advice and more information about IPAM and how to submit an application.
