Croatia Residential SEFF: Erste Bank Croatia



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

25 Nov 2015



PSD disclosed:

22 Oct 2015

Translated version of this PSD: Croatian

Project Description

The EBRD is providing a credit line up to EUR 10 million under the Croatian Residential Sustainable Energy Financing Facility ("Croatia Residential SEFF") to Erste & Steiermärkische Bank d.d. in Croatia ("EBC").

Project Objectives

The credit line will be used to finance sub-loans to eligible sub-borrowers under the Croatia Residential SEFF to support energy efficiency investments in the residential sector.

Transition Impact

Croatia's energy intensity has remained about 48-57% higher than EU average over the past 10 years. Its energy self-sufficiency ratio is only 44% which makes the country heavily dependent on energy imports.

This project will support energy conservation and promote the expansion of energy efficiency ("EE") lending to households in a country characterized by an important EE potential in the residential sector (40-50% energy savings potential in the sector).

The project will also promote the development of the 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.

Transfer of knowledge and technical skills amongst local experts under this credit line and Croatia Residential SEFF will further build local expertise in appraising sustainable energy projects and applying the best available technologies. It is expected to have a resolute impact on the market of high performing technologies by promoting those technologies and therefore fostering a competition among technology suppliers, installers and manufacturers.

Client Information


Erste & Steiermärkische Bank d.d., Zagreb is the 3rd largest bank with a 15.0% market share measured by total assets as of end of H1 2015.

EBRD Finance Summary

EUR 10,000,000.00

Total Project Cost

EUR 10,000,000.00

Environmental and Social Summary

Screened FI. EBC will be required to continue complying with national legal requirements and with  he EBRD's Environmental and Social Policy and Procedures for Local Banks, including PR2, PR4 and PR, apply the EBRD¿s E&S Risk Management Procedures for SME and Micro loans. This will also include adherence to the EBRD's Environmental and Social Exclusion and Referral Lists, and submission of annual environmental and social reports to the Bank.

Technical Cooperation

The Project is supported by Technical Cooperation. A consultant will execute EE implementation support including marketing and general awareness raising activities; support with pipeline development; capacity building for EBC as well as the assistance in administration, monitoring and reporting on facility.

Company Contact Information

Mirjana Haluga

+385 (0) 72 37 1764

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

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