FIF - WB WiB II Phase II - Banca Intesa Belgrade



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

06 Apr 2022



PSD disclosed:

15 Feb 2022

Project Description

Provision of a senior unsecured loan in the amount of up to EUR 8 million in a single tranche to Banka Intesa Beograd ("BIB"), a joint-stock company incorporated in Serbia, for on-lending to eligible women-led SMEs in line with the criteria under Western Balkans Women in Business Programme Phase II ("WB WiBP II").

The proposed operation is the fifth successive loan to BIB under WB WiBP following the full and successful utilisation of the previous facilities.

Project Objectives

The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services. 

Transition Impact

ETI score: 68

The project contributes to the objectives of the WB WiBP II, supporting the Transition Impact qualities of Inclusive and Competitive:

Inclusive: The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services, while demonstrating the business case for scaling-up lending to the women-led SME segment.

Competitive: Transition impact is expected to derive from market expansion in line with EBRD Financial Intermediaries Framework.

Client Information


BIB is the largest bank in Serbia and a market leader in corporate and retail banking. As of 3Q 2021, BIB had a market share of 15.4% by total assets, 15.6% by net loans and 16.5% by deposits. 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 150 offices across Serbia.

EBRD Finance Summary

EUR 8,000,000.00

Total Project Cost

EUR 8,000,000.00


The project will support the market segment as a whole and enable the continuation of the successful implementation of the previous four WiB projects. Non-TC grant, in the form of First Loss Risk Cover, would incentivise BIB to penetrate this segment further and encourage them to mainstream providing financing to women-led businesses. The TC package will support (i) the PFI in expanding their financial and non-financial services to WiB segment beyond what BIB has achieved during the previous period and (ii) women entrepreneurs in equipping them with key managerial and financial skills through seminars. It will also assist BIB in mobilising longer-term external funds which will help to diversify the bank's funding base and expand lending to private women-led SMEs in Serbia.

Environmental and Social Summary

Categorised FI (2019 ESP). BIB is an existing client of the Bank and has been satisfactorily reporting on the implementation of EBRD's E&S Risk Management Procedures and on its compliance with PRs 2, 4 and 9. BIB will be required to continue to comply with the PRs and the E&S Risk Management procedures for Corporate Loans, SME and Micro Loans, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the Performance Requirements.

Technical Cooperation and Grant Financing

Non-TC funds are provided by the EBRD Shareholders Special Fund (SSF) in the form of First Loss Risk Cover (FLRC) to BIB in accordance with the Policy Statement. The Programme is supported by TC funds to support capacity building within the participating financial institution and in women-led SMEs, jointly provided by the government of Italy, Luxemburg, Sweden and SSF at the framework level.

Company Contact Information

Snezana Topalovic
381 11 201 1400
381 11 201 1260
Milentija Popovica 7b 11070 Novi Beograd

PSD last updated

15 Feb 2022

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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