Export and Credit Bank, Equity Investment

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 6034

Status Complete

Location

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

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

Project ID 6034

Status Complete

Location

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

03 May 2000

Disclosure date

05 May 2000

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."

Project Description

Up to DM 6 million equity investment in ECB through a combination of newly issued ordinary voting and preference convertible non-voting shares for a 31 per cent stake in ECB, 10 per cent of which has voting rights. The project will support ECB’s future growth, both organic or through acquisitions, and will help ECB develop into a strong medium-sized bank, with a focus on SMEs and retail. The project will assist the bank to become a platform for consolidation and to attract a strategic investor at a later stage.

Transition Impact

The project has a high potential for transition impact, as it will help to bring about consolidation in the fragmented banking sector. It will also have demonstration effect of skills transfers through the placement of senior bankers in ECB and through improved corporate governance.

The Client

ECB is a small privately held bank in FYR Macedonia, with its headquarters in Skopje. Established in 1993, it has been mostly active in corporate banking with a focus on small and medium-sized enterprises (SMEs). In future, it will continue to focus on SMEs and will seek to expand its retail banking operations.

EBRD Finance

DM 6 million equity investment in ECB through a combination of newly issued ordinary voting and preference convertible non-voting shares.

Project Cost

DM 6 million (€3.07 million).

Environmental Impact

ECB will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, ECB will require its borrowers to comply, at a minimum, with national/local health, safety, environmental and public consultation requirements.

Technical Cooperation

TC funding of up to EUR 585,000 is being sought to procure experts for institutional strengthening of ECB.

PSD last updated

01 Feb 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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