FIF - Regional SME CSP - Komercijalna Banka Skopje II


North Macedonia

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

22 Dec 2020



PSD disclosed:

22 Dec 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

Provision of a senior unsecured loan of up to EUR 2.5 million, to be made available in one single tranche, to Komercijalna Banka Skopje ("KBS") under the Regional SME Competitiveness Support Programme ("SME-CSP").

Project Objectives

The project will support investments in SMEs to upgrade production facilities and comply with EU Directives in the field of environmental protection, workers' and product safety and product quality. The investments will be selected based on the technical and financial eligibility criteria set forth in the Policy Statement for the Regional SME Competitiveness Support Programme. Support to SMEs is tailored as combination of access to finance with TC and non-TC assistance. At least 60% of the use of the proceeds will be directed towards financing GET-eligible investments in line with the Policy Statement.

Transition Impact

ETI score: 60

The project contributes to the objectives of the Regional SME-CSP, supporting the competitive and resilient TI qualities.

Competitive: The programme will encourage the competitiveness of SMEs in the Western Balkans, 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. 

Resilient: The project will foster the resilience of SMEs as sub-borrowers will be expected to be commercially viable, which should be achieved given the underwriting expertise and adequate portfolio quality of KBS.

Client Information


Komercijalna Banka Skopje ("KBS") is the largest bank in the Republic of North Macedonia with assets of EUR 2 billion and a market share of 22.4% as of end-2019. The company is headquartered in Skopje and services the entire territory of North Macedonia through a network of 11 regional branches as well as 54 city-branches served by a total of 1,012 employees.

EBRD Finance Summary

EUR 2,500,000.00

Total Project Cost

EUR 2,500,000.00


Additionality is achieved by combining necessary long-term financing with TC and investment incentives into a package that helps unlock the full potential of SMEs in North Macedonia and is structured to promote compliance with EU and international standards by improving the supply of dedicated financing and increasing the demand for such investments.

Environmental and Social Summary

Categorised FI (2019 ESP). KBS is an existing client and has provided satisfactory Annual E&S Reports to the Bank to date. KBS will be required to continue to implement the environmental and social risk management procedure for micro, SME and corporate loans; continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual E&S Reports to the Bank.

Technical Cooperation and Grant Financing

TC: TC will include support for Programme Consultants that will assist with the implementation, marketing and monitoring of the Programme and a separate verification of the technical implementation of the investments by the Sub-borrowers before the incentive payment is released.

Co-investment grantsEUR 375,000 for incentives to Sub-borrowers for implementation of eligible investments in line with CSP WB Policy Statement.

The resources are provided by the European Union.

Company Contact Information

Biljana Maksimovska-Popovik
+389 2 316 8501
Orce Nikolov br. 3, P.O.B. 563, 1000 Skopje, Republic of North Macedonia

Implementation summary

PSD last updated

22 Dec 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 EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

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 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 to get guidance and more information on IPAM and how to submit a request.


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