Provision of a senior unsecured loan of up to EUR 2.5 million to be provided in two tranches (a first tranche of EUR 1.0 million and a second tranche of EUR 1.5 million) under the Green Economy Financing Facility - Western Balkans. The second tranche will be uncommitted and its commitment will be on EBRD's sole discretion.
This project will contribute to the objectives of GEFF WB, supporting the Green and Competitive transition qualities.
ETI score: 80
The project contributes to the objectives of GEFF-WB (OpID: 48129), supporting the Green and Competitive TI qualities.
- Green: The project will contribute towards building a green economy by facilitating the expansion of lending for investments into high performance residential energy efficiency technologies. The innovative lines of finance available through local financial institutions will help address the entrenched behaviour and demonstrate the business case for investing in higher performance technologies to end-beneficiaries, PFIs and other market participants, thus creating green investment demand.
- Competitive: The project will contribute towards building a more competitive financial sector by building the capacity of the PFIs for financing green economy projects. Furthermore, the introduction of lending products based on energy efficiency requirements going beyond prevailing standards will stimulate the development of the market for and supply of high performance green technologies, materials and services.
PROCREDIT BANK KOSOVO
PCBK, a subsidiary of ProCredit Holding, is the second largest private bank in Kosovo in terms of assets with a balance sheet of EUR 800.8 million and market share of 18.3%. It is a universal bank with a focus on SME lending (approx. 80% of portfolio).
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing via PCBK with TC and investment incentives into a package that promotes residential green economy investments in Kosovo.
Environmental and Social Summary
Categorised FI (ESP 2019). PCBK is an existing client and has provided satisfactory annual E&S Reports to the Bank to date. It is required to continue to comply with PRs 2, 4 & 9, implement the EBRD's E&S Risk Management Procedures for Corporate, SME and Micro Loans including adherence to the expanded 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 PCBK's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.
Technical Cooperation and Grant Financing
EUR 5.1 million have been secured to support the preparation, implementation and monitoring of GEFFWB. PCBK will share up to 15% of TC costs that benefit them directly through a marketing campaign,same as for the previous GEFF lines. Grant resources are provided by the Republic of Austria and the multi-donor funded Western Balkans Investment Framework to fund TC programme under the GEFF.
Company Contact Information
Str. George Bush No.26, 10000 Prishtina Kosovo
PSD last updated
15 Sep 2020
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