Croatia Residential Energy Financing Facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 47051

Status Complete

Location

Croatia

Business Sector

Financial Institutions

Notice Type

Private

Sub-projects

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 47051

Status Complete

Location

Croatia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

25 Nov 2015

Disclosure date

23 Oct 2015

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Sub-projects signed under this framework

Translated version of this PSD: Croatian

Project Description

The EBRD will provide senior loans for a total amount of up to EUR 60 million to financial institutions operating in Croatia, which will on-lend EBRD funds to individuals or vendors for energy efficiency projects in the residential sector.

Project Objectives

Significant challenges remain with respect to energy efficiency in Croatia. There is a significant potential for energy efficiency improvement in the residential sector which is among the largest energy end-users. In accordance with the NEEAP (National Energy Efficiency Action Plan) 34% of the overall energy saving target for Croatia should come from the residential sector. The proposed facility aims to address the need for continued energy efficiency improvements in the residential sector in line with this goal.

Transition Impact

The facility will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency (EE) lending to households in Croatia which is characterised by a significant EE potential in the residential sector.

It will further demonstrate to commercial banks operating in Croatia the market potential of the EE sector and foster the mobilisation of the private sector financing for this, currently underserved, sector.

The project will also promote the development of a market for EE technologies, appliances and equipment by stimulating demand through market awareness campaigns and the introduction of an innovative and efficient financing model for high-performance residential energy efficiency technologies.

In addition, the project is expected to transfer and build expertise and skills on several levels:

(i) participating banks will build expertise in assessing the risks and benefits associated with small scale EE investments;

(ii) transfer of knowledge and technical skills amongst local experts will further build local expertise in appraising sustainable energy projects and applying best available technologies.

Client Information

It is envisaged that three banks will participated in the facility.

EBRD Finance Summary

EUR 60,000,000.00

Total Project Cost

EUR 60,000,000.00

Environmental and Social Summary

Categorised FI . All Participating Financial Institutions (PFIs) under the SEFF will be required to comply with EBRD's PRs 2, 4 and 9. Eligible Sub-projects will be required to comply with national environmental, health and safety, social and labour regulations as well as the EBRD's energy efficiency and/or renewable energy eligibility criteria. All PFIs will be required to submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

The Project is supported by a TC of up to EUR 1.8 million. Out of EUR 1.8 million, 600,000 were allocated from SSF budget. Three consultants will support the implementation of the Facility. Two consultants have already been engaged for the project preparation phase. Another consultant will execute the implementation support including marketing and general awareness raising activities; support with pipeline development; capacity building for participating banks; support the administration, monitoring and reporting on the Facility.

Company Contact Information

Information will be presented separately for sub-projects.

Transition impact

ETI Score:80

PSD last updated

21 Jan 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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