Western Balkans GEFF II - Partner


Bosnia and Herzegovina

Project number:


Business sector:

Financial institutions

Notice type:


Approval date:

05 Oct 2021



PSD disclosed:

11 Oct 2021

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 of up to EUR 4m to be provided in two equal tranches under the Western Balkans Green Economy Financing Facility II. The second tranche will be uncommitted and its commitment will be in the EBRD's sole discretion. 

Project Objectives

This project will contribute to the objectives of WB GEFF II, supporting the Green and Competitive transition qualities.

Transition Impact

ETI score: 80

The project contributes to the overall objectives of Western Balkans GEFF II (BDS20-183), supporting the Green and Competitive TI qualities. The TI benchmarks will therefore be monitored and assessed at the Framework level. Green: The project will contribute towards building a green economy by facilitating the expansion of lending for investments into high performance residential green economy technologies. Competitive: The project will contribute towards building a more competitive financial sector by building the capacity of the Partner Financial Institutions for financing green economy projects. 

Client Information


Partner MKF Tuzla is the third largest non-deposit microfinance institution in BiH (14.4% market share by total assets in Q1 2021), registered as a foundation. Mercy Corps, an international relief and development NGO from the United States, is the founder.  

EBRD Finance Summary

EUR 4,000,000.00

Total Project Cost

EUR 4,000,000.00


Additionality is achieved by combining the necessary long-term financing via Partner with TC and investment incentives into a package that promotes residential green economy investments in Bosnia and Herzegovina.

Environmental and Social Summary

Categorised FI (2020 ESP). Partner is an existing client and will be required to continue to comply with PRs 2, 4 and 9. The annual environmental and social report for 2020 will be reviewed and any potential gaps addressed before signing. Partner will be required to continue to comply with the EBRD's Environmental and Social Risk Management Procedures for Corporate Loans, SME and Micro Loans, and submit annual environmental and social reports to the Bank. For any potential renewable energy projects under GEFF, the E&S Eligibility Criteria for solar, wind, geothermal, bioenergy and hydro power will have to be applied as applicable. The GET Share is 100%.

Technical Cooperation and Grant Financing

TC: EUR 2.965 million for the overall Facility to support the preparation, implementation and monitoring of WB GEFF II. Client contributions will be sought in line with the latest EBRD cost sharing policy. Exact amount to be defined during project implementation. Grant resources are provided by the Republic of Austria and SSF to fund TC programme under the GEFF.

Non-TC: GEFF-WB II will also be supported by non-TC funds of up to EUR 9.63 million (for this sub-project amounts up to EUR 818,000) to be provided by the EU through the Western Balkans Investment Framework ("WBIF") for investment incentives payments to sub-borrowers for the implementation of eligible sub-projects in line with the levels and eligibility criteria as set forth in the Policy Statement of the Facility.

Company Contact Information

Sanja Paocic
+387 35 306 200
Partner mikrokreditna fondacija Ulica 15 maja bb, Trzni centar Sjenjak, 75000 Tuzla Bosnia and Herzegovina

PSD last updated

11 Oct 2021

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
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

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 compliance@ebrd.com. 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 ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.


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