FIF - WB WiB Phase II- Banka Intesa Beograd



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

23 Jun 2020



PSD disclosed:

11 Feb 2020

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

Provision of a senior unsecured loan in the amount of up to EUR 8 million in single tranche to Banka Intesa Beograd ("BIB"), a joint-stock company incorporated in Serbia, for on-lending to eligible women-led SMEs in line with the criteria under Western Balkans Women in Business Programme Phase II ("WB WiBP II").

The proposed operation is the fourth successive loan to BIB under WB WiBP following the full and successful utilisation of the previous facilities.

Project Objectives

The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services. 

Transition Impact

ETI score: 68

The project contributes to the objectives of the WB WiBP II, supporting the Transition Impact qualities of Inclusive (primary) and Competitive (secondary):

Inclusive: The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services, while demonstrating the business case for scaling-up lending to the women-led SME segment.

Competitive: Transition impact is expected to derive from market expansion in line with EBRD Financial Intermediaries Framework.

Client Information


BIB is the largest bank in Serbia with 16.0% market share in total loans and leading position in corporate and retail banking as of 4Q 2019. It has approximately 3,000 employees and branch network of 155 offices accross Serbia. It is ultimately owned by Intesa Sanpaolo SPA, Italy.

EBRD Finance Summary

EUR 8,000,000.00

Total Project Cost

EUR 8,000,000.00


The project will support the market segment as a whole and enable the continuance of the successful implementation of previous three WiB projects. Non-TC grant, in the form of First Loss Risk Cover, would incentivise BIB to penetrate this segment further and encourage them to mainstream providing financing to women-led businesses. The TC package will support (i) PFI in expanding thier financial and non-financial services to WiB segment beyond what BIB had achieved during the previous period and (ii) women entrepreneurs in equipping them with key managerial and financial skills through seminars. It will also assist BIB in mobilising longer-term external funds which will help to diversify the bank's funding base and expand lending to private women-led SMEs in Serbia.

Environmental and Social Summary

Categorised FI (ESP 2014): BIB is an existing client of the Bank.  Reporting by the client has confirmed that BIB has in place the necessary environmental and social (E&S) policies, procedures and risk assessment tools in line with the Bank's E&S requirements.  Further, E&S training has been previously provided by the Bank's consultant. BIB will be required to continue to comply with PRs 2, 4 and 9 and implement sub-projects in accordance with the EBRD's Environmental and Social Procedures for Corporate Loans, SME and Micro Loans.  Annual reporting shall continue via the FI Sustainability Index.

Technical Cooperation and Grant Financing

Technical cooperation (TC): will cover BIB's capacity building (i.e. seminars, women banking initiative or equal oportunity actional plan) and ASB's advisory support for women-led SMEs, funded jointly by the Government of Luxembourg and Sweden.

Non-TC:Grant funds of up to EUR 0.8 million to provide First Loss Risk Cover for BIB.

Company Contact Information

Snezana Topalovic
+381 11 201 1400
381 11 201 1260
Milentija Popovica 7b 11070 Novi Beograd

PSD last updated

24 Jun 2020

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 EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social 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 additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from 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 activities of the Bank 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 Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. 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 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 following its entry into force on 1 January 2020. 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 (e.g. 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 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; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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