Provision of a senior unsecured loan of up to EUR 2.5m , in one tranche, under GEFF Western Balkans.
The project contributes to the objectives of GEFF WB, supporting the Green and Competitive tranisition qualities.
ETI score: 100
Green: The project will contribute towards building a green economy by facilitating the expansion of residential energy efficiency lending in North Macedonia and positive demonstration effects of green economy projects.
Competitive: The project will contribute towards building a more competitive financial sector through developing the internal capacity of partner financial institutions for financing green economy projects.
OHRIDSKA BANKA AD
Following the ownership change in Nov 2019, Ohridska Banka ("OB") was taken over by Steiermarkische Sparkasse (StSp) from Societe Generale. Currently, OB is the 5th largest bank on the market with a 7.7% market share by total assets (end 2019). However, OB will merge with StSp's current subsidiary Sparkasse Bank Macedonia in 2021. Following the merge, the new bank is expected to become 4th largest on the market, with around 12% market share.
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing, in the form of a senior loan, with technical support and targeted investment incentives into a package that promotes residential green economy investments.
Environmental and Social Summary
Categorised FI (2014 ESP). OB is an existing client and has provided satisfactory Annual E&S Reports to Bank to date. OB 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 GEFFWB. OB will share up to 15% of TC costs that benefit them directly through a marketing campaign,same as for the previous GEFF lines. 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.
Company Contact Information
Milka Rataikoska Joleska
+ 389 2 15050
'Orce Nikolov' no.52, 1000 Skopje
PSD last updated
06 Apr 2020
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Environmental and Social Policy (ESP)
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Independent Project Accountability Mechanism (IPAM)
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