Provision of a senior unsecured loan of up to EUR 3.0m under the Green Energy Financing Facility ("GEFF") in two tranches of EUR 1.0m and EUR 2.0m (2nd tranche uncommitted). Tenor: up to 7 years maturity (consisting of 1year grace and 6 years for principal repayment).
Supporting investments in high-performance green technologies, materials and solutions undertaken in privately-owned residential dwellings or buildings ("sub-projects"). Sub-projects will be selected according to technical and financial eligibility criteria set forth in the Policy Statement for GEFF-WB, which will be an integral part of the loan agreement to be signed with NLB SK. 100% of the use of proceeds will be related to Green Economy Transition ("GET") investments.
ETI score: 80
The project contributes to the objectives of GEFF-WB, supporting the Green and Competitive TI quality.
Green: The project will contribute towards building a green economy by facilitating the expansion of residential energy efficiency lending in North Macedonia and positive demonstration effects of green economy projects.
Competitive: The project will contribute towards building a more competitive financial sector through developing the internal capacity of the PFIs for financing green economy projects.
NLB BANKA AD SKOPJE
NLB Bank Skopje ("NLB SK'') is the third largest bank in North Macedonia (16% market share by total assets). It operates through a network of more than 50 branches across North Macedonia (around half of them in Skopje), has nearly 900 employees and caters to both corporate and retail customers.
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing, in the form of the senior loan, with technical support, targeted investment incentives into a package that promotes residential green economy investments.
Environmental and Social Summary
Categorised FI (ESP 2019). NLB SK is an existing client and is in compliance with PRs 2, 4 and 9 under previous exposures. NLB SK will be required to continue to comply with the EBRD's Environmental and Social Risk Management Procedures for Corporate Loans, SME and Micro Loans, as well as the PRs, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019, and submit annual environmental and social reports to the Bank. Sub-borrowers financed through NLB's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements. For applicable GEFF projects, the E&S eligibility criteria for renewable energy need to be applied.
Technical Cooperation and Grant Financing
There are TC and non-TC elements atched to this program. EUR 5.1m have been set for TC support at Facility level. NLB SK will share part of the TC costs that benefit them directly through providing parallel contribution. Exact amount to be defined during project implementation.
Non-TC: EUR 17.5 million is sourced from the European Union at the framework level for investment incentives to sub-borrowers for the implementation of eligible sub-projects in line with the Policy Statement. EUR 0.6 million from the budget will be used for this project.
Company Contact Information
+389 2 5100 867
+389 2 3105 681
Majka Tereza No.1, 1000 Skopje
PSD last updated
22 Jun 2020
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