Provision of a long-term senior unsecured loan of up to EUR 2 million to Sparkasse Bank Macedonia ("SBM") for on-lending to small and medium-sized enterprises ("SMEs") in North Macedonia. The loan is envisaged under the Sustainable Reboot SME Programme ("Reboot SME").
The loan is intended to provide financing for on-lending to local SMEs for investments in environmental protection, workers' safety and product quality and safety in order to introduce and implement EU standards, which will boost SMEs' competitiveness in the country. At least 70% of the use of the proceeds is expected to be related to Green Economy Transition ("GET") investments.
ETI score: 60
The project supports the Competitive and Green TI qualities. The Competitive quality will be supported by: (i) facilitating SMEs' increased competitiveness; and (ii) prioritising investments that result in compliance with EU Directives and other relevant international standards. The project will also facilitate investments in green technologies that will drive the transition to an environmentally sustainable, lower-carbon and climate-resilient green economy, thus supporting the Green quality.
SPARKASSE BANK MACEDONIJA AD SKOPJE
Sparkasse Bank Makedonija AD Skopje ("SBM") is a universal commercial bank and the 4th largest bank in North Macedonia, with 11.4% market share by total assets. It is fully-owned by Steiermarkische Bank und Sparkassen AG, Austria, which acquired Ohridska Banka ("OB") from Societe Generale and merged it in July 2021. It is considered a systemically important bank domestically, as per the criteria of the National Bank.
EBRD Finance Summary
Total Project Cost
Combining the necessary long-term financing with technical support and targeted investment incentives into a package that promotes green investments that will improve the competitiveness of SMEs.
Environmental and Social Summary
Categorised FI (ESP 2019). SBM will be required to provide satisfactory Annual E&S Reports to the Bank to date. SBM will be required to comply with EBRD's PRs 2, 4 and 9, adopt 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 AESRs to the Bank. Sub-borrowers financed through SBM's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements. The Project's use of proceeds may include the financing of solar sub-projects.
Technical Cooperation and Grant Financing
The project will be supported by a comprehensive technical assistance to SBM and sub-borrowers to facilitate the project preparation and successful implementation of the Reboot SME programme. The source for TC funds is the EBRD's Shareholders' Special Fund and other potential donors. The source for non-TC funding is Norway, Luxemburg, United States of America via the Small Business Impact Fund.
Company Contact Information
Milka Ratajkoska - Joleska
+389 2 3167714
Str.Makedonija 34, 1000 Skopje
PSD last updated
17 Jun 2022
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
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Access to Information Policy (AIP)
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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).
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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.