The establishment of a Western Balkans Green Economy Financing Facility II (WB GEFF II) in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia ("Western Balkans" or "WB") for up to €50 million in total financing to eligible Partner Financial Institutions (PFIs). The EBRD funds will be used to invest in high-performance energy efficiency technologies, materials and solutions undertaken in privately-owned residential buildings.
The Facility aims to contribute to the green economy markets in the Western Balkans by (i) increasing awareness, as well as capacity and involvement, of the population and private sector participants in residential green economy investments, (ii) improving living comfort and affordability of utilities for households, (iii) strengthening local production and supply base for green technologies and materials, and eventually (iv) delivering sizeable resource savings in the key energy consuming sector of the Western Balkans economies.
ETI score: 80
The Facility contributes to the Green TI quality.
The Facility stimulates the growth of the market for green technologies and materials across the six Western Balkan countries. The WB GEFF II will demonstrate the positive benefits of resource conservation and promote the expansion of green lending to individual households and their collectives in a region and sector characterised by a relatively high energy and carbon intensity. It will also demonstrate to the PFIs the market potential for green lending and foster the mobilisation of the private sector financing for the currently underserved residential sector.
PFIs will be local financial institutions (commertial banks, microfinance institutions and other credit institutions) established and operating in the Western Balkans countries.
EBRD Finance Summary
Total Project Cost
The EBRD remains the only IFI in the WB which has supported residential green investments in a comprehensive manner by combining intermediary financing, GEFF Technical Cooperation, incentives to end-borrowers and tailored policy dialogue. Thus, the sources of additionalities come from (i) Innovative financing structure, (ii) Policy, sector, institutional or regulatory change, (iii) Standard-setting and Knowlege and (iv) innovation adn capacity building.
Environmental and Social Summary
Categorised FI (ESP 2019): PFIs under this programme will be required to continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9; implement the applicable EBRD's E&S Risk Management Procedures for Micro, SME and Corporate Lending and as well as applicable, submit Annual Environmental and Social Reports to the Bank.
Technical Cooperation and Grant Financing
The Facility will be supported by a donor-funded Technical Cooperation package of up to €2.5 million provided by a Facility Consultant. The initial amount of €1.0 million TC is provided by the EBRD Shareholders Special Fund.
Company Contact Information
PSD last updated
27 Aug 2020
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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.