G4G: Raiffeisen Kosovo

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of up to EUR 20 million of an unfunded Guarantee for Growth (G4G) in favour of Raiffeisen Bank Kosovo JSC (RBKO), a joint stock company incorporated in Kosovo. The Guarantee will have an initial tenor of three years.

Project ID 54768

Status Signed

Location

Kosovo

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

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

Company Contact Information

Zana Dauti Roka
zana.dauti@raiffeisen-kosovo.com
+383 48 199 274
www.raiffeisen-kosovo.com
Rr. Robert Doll 99, Pristina 10000, Kosovo

Project ID 54768

Status Signed

Location

Kosovo

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

15 Nov 2023

Disclosure date

26 Dec 2023

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project description

Project objectives

The Guarantee covers the risk of non-payment of selected Kosovo government bonds held by RBKO, enabling the client to making new sub-loans to private sector borrowers at a multiple of the guaranteed amount. At least 20% of the guaranteed amount will be allocated towards Green Economy Transition (GET) eligible sub-projects.

Transition impact

ETI Score:63

ected transition impact of the project derives from the Resilient and Competitive transition qualities. The G4G will free up risk weight capacity and redirect it to productive use in the real economy through new lending to MSMEs.

Client information

RAIFFEISEN BANK KOSOVO JSC

RBKO is an existing EBRD client and the largest bank in Kosovo with an asset base of EUR 1.4 billion and a loan portfolio of EUR 900 million, representing a market share of ca. 20% by total assets and net loans as of end-June 2023. RBKO offers a comprehensive range of products to individuals, MSMEs, and corporates with a network of 36 branches in Kosovo and more than 900 employees.

RBKO is a fully-owned subsidiary of Raiffeisen Bank International AG (RBI) via holding company Raiffeisen SEE Region Holding GmbH, Austria.

EBRD Finance Summary

EUR 20,000,000.00

Total project cost

EUR 20,000,000.00

Additionality

Additionality is achieved based on the innovative financing structure not available from other market players and the large volume instrument that fill a market funding gap.

Environmental & Social Summary

Categorised FI (2019 ESP). RBKO is an existing client and their Annual E&S Report of 2022 demonstrated improvement of their environmental and social performance thus complying with the Bank's relevant performance requirements. RBKO will be required to continue to implement the environmental and social risk management procedure for Corporate loan, SME and Micro loans and comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9, including adherence to the EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual E&S Reports to the Bank. Sub-borrowers financed through RBKO will also be required to comply with national environmental, health, safety and labour (EHSL) requirements.

Technical Cooperation and Grant Financing

None.

Company Contact Information

Zana Dauti Roka
zana.dauti@raiffeisen-kosovo.com
+383 48 199 274
www.raiffeisen-kosovo.com
Rr. Robert Doll 99, Pristina 10000, Kosovo

PSD last updated

26 Dec 2023

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

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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G4G: Raiffeisen Kosovo

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)