Provision of a long-term senior unsecured loan to Banca Intesa Belgrade (BIB) for on-lending to small and medium-sized enterprises (SMEs) in Serbia. The loan is envisaged under the Regional SME Competitiveness Support Programme ("SME-CSP").
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 60% of the use of the proceeds is expected to be related to Green Economy Transition ("GET") investments.
ETI score: 60
The project aims at enhancing the competitiveness of SMEs in Serbia by: (i) supporting SMEs in accessing finance towards EU standards investments; and (ii) assisting SMEs to access advice and know-how for introducing and implementing EU standards and becoming competitive.
BANCA INTESA AD BEOGRAD
Banca Intesa Belgrade ("BIB") is the largest bank in Serbia holding the leading position in corporate and retail banking and a market share of 15.5% by total assets, 15.9% by net loans and 16.9% by deposits as of H1 2021. BIB has been one of the most profitable banks in Serbia for many years, thanks to economies of scale, good diversification and efficient operations. It has approximately 3,000 employees and a branch network of 154 offices across Serbia.
EBRD Finance Summary
Total Project Cost
Combining the necessary long-term financing with technical support and targeted investment incentives into a package that promotes investments that will improve the competitiveness of SMEs.
Environmental and Social Summary
Categorised FI (ESP 2019). BIB is an existing client and the use of proceeds will be used to support investments in high-performance green technologies, materials and solutions undertaken in privately owned residential dwellings or buildings. The Partner Bank will be required to continue to comply with PRs 2, 4 & 9, implement the EBRD's E&S Risk Management Procedures for Corporate, SME and Micro Loans including adherence to the EBRD E&S Exclusion and Referral List introduced with ESP 2019 and submit an annual E&S reports to the Bank. Sub-borrowers financed through BIB's loans will be required to comply with national environmental, health, safety and labour (EHSL) requirements.
Technical Cooperation and Grant Financing
The project will be supported by a comprehensive technical assistance to BIB and sub-borrowers to facilitate the project preparation and successful implementation of the Regional SME-CSP Programme. The technical assistance is funded by the European Union.
Company Contact Information
381 11 201 1400
381 11 201 1260
Milentija Popovica 7b 11070 Novi Beograd
PSD last updated
21 Oct 2021
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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
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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 email@example.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.
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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).
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 firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.