GEFF- Western balkans - Sparkasse Bank Macedonia

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a EUR 2 million loan, in one tranche, under the Green Energy Financing Facility Western Balkans (GEFF-WB).

Project ID 51720

Status Repaying

Location

North Macedonia

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Viktorija Jovanovska
viktorija.jovanovska@sparkasse.mk
+389 2 3200 500
+389 2 3200 515
sparkasse.mk
Makedonija Street, 9-11, 1000 Skopje

Project ID 51720

Status Repaying

Location

North Macedonia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

18 Feb 2020

Disclosure date

06 Feb 2020

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."

GEFF- Western Balkans - Sparkasse Bank Macedonia (Macedonian) (PDF, 0.64MB)

Project description

Provision of a EUR 2 million loan, in one tranche, under the Green Energy Financing Facility Western Balkans (GEFF-WB).

Project objectives

The project contributes to the objectives of GEFF-WB, supporting the Green and Competitive TI quality.

Client information

SPARKASSE BANK MACEDONIJA AD

Sparkasse Bank Makedonija ("SBM") is a universal commercial bank,that is the 7th largest bank in North Macedonia with a 4% market share by total assets. SBM is fully owned by Steiermarkische Bank und Sparkassen AG, Austria ("STSP"). STSP has acquired 2nd bank on the Macedonian market in 2019 - Ohridska Banka (OB) from Soc Gen. (5th largest, with around 8% market share). SBM and OB will be merged in 2021, after which the new bank will be the 4th largest on the market with 12-13% market share. Existing exposure to both banks is EUR 33.2m, (SBM -EUR 16.5m + OB i EUR 16.7m) and fully consists of credit lines .

EBRD Finance Summary

EUR 2,000,000.00

Available in one tranche.

Total project cost

EUR 2,000,000.00

Additionality

Additionality is achieved by combining the necessary long-term financing in the form of the senior loan, risk mitigation due to EBRD's long-term relationship with a client, and knowledge, innovation, and capacity building via technical support, latest technology selector, and targeted investment incentives into a package that promotes residential green economy investments;

Environmental & Social Summary

Categorised FI (2014 ESP). SBM is an existing client and has provided satisfactory Annual E&S Reports to Bank to date. SBM will be required to continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 and submit Annual E&S Reports to the Bank.

Technical Cooperation and Grant Financing

EUR 5.1m have been secured to support the preparation, implementation and monitoring of GEFF-WB. SBM will share up to 15% of TC costs that benefit them directly through a marketing campaign, same as for the previous GEFF line. 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.

On top of that, EUR 0.4m for investment incentives to sub-borrowers under this line, for the implementation of eligible sub-projects in line with the Policy Statement have been secured from the European Union.

Company Contact Information

Viktorija Jovanovska
viktorija.jovanovska@sparkasse.mk
+389 2 3200 500
+389 2 3200 515
sparkasse.mk
Makedonija Street, 9-11, 1000 Skopje

PSD last updated

14 Feb 2020

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 the 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 its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) 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 also requires its clients to disclose information, as appropriate, about the risks and impacts of 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 of the Bank's activities 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 EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either 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. OCCO will follow-up all matters reported. It will review all matters reported. 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, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. 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 (for example, 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 the 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 and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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GEFF- Western balkans - Sparkasse Bank Macedonia

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)