GEFF WB - UniCredit Mostar

Country:

Bosnia and Herzegovina

Project number:

49100

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

09 May 2017

Status:

Disbursing

PSD disclosed:

06 Apr 2017

Translated version of this PSD: Bosnian

Project Description

Provision of a EUR 7 million senior loan to UniCredit Bank d.d. under the Western Balkans Residential Green Economy Financing Facility ("GEFF" or the "Framework" or "Facility") for onlending to residential sector for green economy investments in Bosnia and Herzegovina.

Project Objectives

The project will aim to contribute to the green economy markets in Bosnia and Herzegovina by (i) increasing awareness, as well as capacity and involvement, of the population and private sector participants in residential green economy investments, (ii) improving living comfort and affordability of utilities for households, (iii) strengthening local production and supply base for green technologies and materials, and eventually (iv) delivering sizeable resource savings in the key energy consuming sector of the Bosnian economy.

Transition Impact

The project will address the residential sector in Bosnia and Herzegovina and is expected to stimulate the growth of the market for green technologies and materials across the country. The project is expected to demonstrate the positive benefits of resource conservation and promote the expansion of green lending to individual households and their collectives in a sector characterised by a relatively high energy and carbon intensity. It will demonstrate to other banks the market potential for green lending and foster the mobilisation of the private sector financing for the currently underserved residential sector. Financing under the Facility will be complemented with targeted incentive payments, Technical Cooperation, as well as a wide-reaching awareness campaign to alleviate affordability, information and other prevailing barriers and further underpin the market demand for high-performance solutions.

Client Information

UNICREDIT BANK D.D.

UniCredit Bank d.d. is the largest bank in Bosnia and Herzegovina and is part of UniCredit Group.

EBRD Finance Summary

EUR 7,000,000.00

Total Project Cost

EUR 7,000,000.00

Environmental and Social Summary

Categorised FI. All Participating Financial Institutions ("PFIs") under the Facility will be required to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9, including adherence to the EBRD's Environmental and Social ("E&S") Exclusion List. Due to the nature of the projects targeting the residential sector and a streamlined approval structure, whereby all sub-projects compliant with the Technology Selector/List of Eligible Suppliers and Installers ("LESI") will be automatically eligible (with the exception of sub-loans to service providers, vendors, producers) the Project Consultant will be designing the Technology selector/LESI taking into account the E&S exclusion list and other applicable requirements. Sub-loans to service providers, vendors, producers will undergo a review by the Project Consultant and will be checked against the EBRD's E&S Exclusion List. New PFIs will be required to submit a completed FI environmental and social due diligence questionnaire to the EBRD to establish their compliance with the PRs. All PFIs will be required to submit Annual Environmental and Social Reports to the Bank including reporting on sub-projects.

Technical Cooperation

The GEFF will be supported by a comprehensive Technical Cooperation ("TC") package aiming to support the overall implementation and disbursement of the Facility, as well as help overcome prevailing market barriers and build a self-sustaining market by improving overall awareness of and building long-lasting capacity of all stakeholders for green residential investments. The TC will be provided to the PFI and sub-borrowers. Activities that will be undertaken by the Project Consultant include; i) Facility set-up and administration, ii) general market awareness, iii) capacity building and toolkit development , iv) capacity building for sub-borrowers, and v) verification of sub-projects and monitoring and reporting to EBRD.

Company Contact Information

Sanela Simic Cvitkovic
sanela.simiccvitkovic@unicreditgroup.ba
+ 387 36 356 086
+ 387 36 321 420
www.unicredit.ba
Kardinala Stepinca bb 88000 Mostar Bosna i Hercegovina

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