Provision of a senior unsecured loan of up to EUR 4m to be provided in two equal tranches under the Western Balkans Green Economy Financing Facility II. The second tranche will be uncommitted and its commitment will be in the EBRD's sole discretion.
This project will contribute to the objectives of WB GEFF II, supporting the Green and Competitive transition qualities.
ETI score: 80
The project contributes to the overall objectives of Western Balkans GEFF II (BDS20-183), supporting the Green and Competitive TI qualities. The TI benchmarks will therefore be monitored and assessed at the Framework level. Green: The project will contribute towards building a green economy by facilitating the expansion of lending for investments into high performance residential green economy technologies. Competitive: The project will contribute towards building a more competitive financial sector by building the capacity of the Partner Financial Institutions for financing green economy projects.
PARTNER MIKROKREDITNA FONDACIJA TUZLA
Partner MKF Tuzla is the third largest non-deposit microfinance institution in BiH (14.4% market share by total assets in Q1 2021), registered as a foundation. Mercy Corps, an international relief and development NGO from the United States, is the founder.
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing via Partner with TC and investment incentives into a package that promotes residential green economy investments in Bosnia and Herzegovina.
Environmental and Social Summary
Categorised FI (2020 ESP). Partner is an existing client and will be required to continue to comply with PRs 2, 4 and 9. The annual environmental and social report for 2020 will be reviewed and any potential gaps addressed before signing. Partner will be required to continue to comply with the EBRD's Environmental and Social Risk Management Procedures for Corporate Loans, SME and Micro Loans, and submit annual environmental and social reports to the Bank. For any potential renewable energy projects under GEFF, the E&S Eligibility Criteria for solar, wind, geothermal, bioenergy and hydro power will have to be applied as applicable. The GET Share is 100%.
Technical Cooperation and Grant Financing
TC: EUR 2.965 million for the overall Facility to support the preparation, implementation and monitoring of WB GEFF II. Client contributions will be sought in line with the latest EBRD cost sharing policy. Exact amount to be defined during project implementation. Grant resources are provided by the Republic of Austria and SSF to fund TC programme under the GEFF.
Non-TC: GEFF-WB II will also be supported by non-TC funds of up to EUR 9.63 million (for this sub-project amounts up to EUR 818,000) to be provided by the EU through the Western Balkans Investment Framework ("WBIF") for investment incentives payments to sub-borrowers for the implementation of eligible sub-projects in line with the levels and eligibility criteria as set forth in the Policy Statement of the Facility.
Company Contact Information
+387 35 306 200
Partner mikrokreditna fondacija Ulica 15 maja bb, Trzni centar Sjenjak, 75000 Tuzla Bosnia and Herzegovina
PSD last updated
11 Oct 2021
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Independent Project Accountability Mechanism (IPAM)
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