The proposed Serbia Energy Efficiency Framework in buildings (the "SEEF" or "Framework") consists of a facility of up to EUR 40 million to support investments in energy efficiency ("EE") improvements in: 1) public buildings and 2) residential buildings connected to district heating ("DH") systems in Serbia. The eligible borrowers include Serbian municipalities, DH companies and the Autonomous Province of Vojvodina. Targeted sub-projects will have energy savings potential of at least 30 per cent.
The SEEF aims at accelerating the pace of EE renovations in public and residential buildings in Serbia by providing technical assistance, investment incentives and financing through public sector intermediaries. The SEEF will help identifying and prioritising EE investments leading to significant energy savings and contributing to several additional benefits: air pollution and GHG emission reduction, enhanced health-related living conditions, productivity and comfort levels of inhabitants, increased employment and capacity in the construction industry.
Another key element of the Framework is support for the introduction of best practices in the country in terms of energy management such as transition to consumption based billing ("CBB") systems and behavioural change. In addition, the Framework will also aim at ensuring increased standards of inclusive access in renovated public and residential buildings.
ETI score: 60
Primary Quality: Green. The SEEF supports the development of sub-projects that will contribute to the Green TI quality through environmental benefits arising from the reduction of energy consumption in residential and public buildings (expected to be at least 30 per cent).
Secondary Quality: TBC
Details specific to each client within the SEEF will be presented at the sub-project level. The eligible clients include Serbian municipalities, DH companies, and the Autonomous Province of Vojvodina.
EBRD Finance Summary
Total Project Cost
Financing Structure: EBRD offers financing that is not available in the market from commercial sources on reasonable terms and conditions.
Standard-setting: helping projects and clients achieve higher standards. Clients seek and make use of EBRD expertise on best international environmental, social and procurement standards.
Knowledge, innovation, and capacity building: EBRD provides expertise, innovation, knowledge and/or capabilities that are material to the timely realisation of the project's objectives, including support to strengthen the capacity of the clients.
Higher inclusion and gender standards: The clients will also make use of EBRD expertise on higher inclusion and gender standards through focused efforts to increase inclusive standards of access to public and residential buildings.
Environmental and Social Summary
The Framework itself will not be categorised under the Bank's 2019 Environmental and Social Policy; however each sub-project will be categorised on a case by case basis and will be subject to individual environmental and social due diligence ("ESDD") with the support of an independent consultant. A Non-Technical Summary ("NTS"), Environmental and Social Action Plan ("ESAP") and Stakeholder Engagement Plan ("SEP") will be developed for each sub-project to ensure compliance with the EBRD PRs. It is anticipated that the sub-projects will be categorised B. Any Project that is categorised as A will be subject to the Bank's full ESIA requirements and will require Board approval.
Technical Cooperation and Grant Financing
TCs 1-3 will be carried out at sub-project level, while TC4 will be implemented at the Framework level.
m TC1: Detailed Energy Audit of the pre-selected buildings
m TC2: Environmental and social due diligence including preparation of documentation regarding all relevant environmental and social aspects.
m TC3: (Advance) procurement support and supervision, to assist the client with the preparation of tender documents and handling procurement process, and works supervision
m TC4: Support for implementation of CBB, including capacity building and awareness raising, as well as review of existing regulation, identification of barriers for CBB implementation, and provision of recommendations for regulatory improvements
PSD last updated
04 Mar 2021
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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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 firstname.lastname@example.org. 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 email@example.com to get guidance and more information on IPAM and how to submit a request.