Provision of a senior unsecured loan of up to EUR 3.0m (the "GEFF Loan") in three equal tranches of EUR 1.0m (second and third tranches will be uncommitted), under the Western Balkans Green Economy Financing Facility II (WB GEFF II).
The loan is envisaged to provide financing for on-lending to the residential sector (individuals, housing collectives, producers, vendors of green technologies, and service providers) for investments supporting Green Economy Transition ("GET") in Albania. The transaction will, thus, support investments in high-performance green technologies, materials and solutions undertaken in privately owned residential dwellings or buildings.
ETI score: 80
The project contributes to the objectives of the WB GEFF II, supporting the Green and Competitive TI qualities.
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 PFIs for financing green economy projects.
PROCREDIT BANK ALBANIA SHA
PCBA, a subsidiary of ProCredit Holding, is a universal, SME-oriented bank with a 2.1% market share in terms of total assets. PCBA focuses on SME lending, green finance and digitalisation.
EBRD Finance Summary
Total Project Cost
Combining the necessary long-term financing with technical support and targeted investment incentives into a package that promotes green investments.
Environmental and Social Summary
Categorised FI (ESP 2019). PCBA is an existing client previously with a risk sharing facility for agribusiness support and currently supported through the Resilience Framework. PCBA will be required to continue to comply with Performance Requirements 2, 4 and 9 and submit annual environmental and social reports to the Bank. PCBA will be required to apply the EBRD's Environmental and Social Risk Management Procedures for Corporate, SME and Micro Loans and the extended E&S Exclusion list and new Referral list introduced with ESP 2019. Eligible sub-projects under GEFF will be required to be in compliance with the national environmental, social, labour, health and safety legislation.
Technical Cooperation and Grant Financing
The project will be supported by a comprehensive technical assistance to PCBA and Sub-borrowers to facilitate the project preparation and successful implementation of the Programme.
The TC fund for the proposed transaction is sourced from the SSF and the Government of Austria.
The source for non-TC funds is the EU through the Western Balkans Investment Framework ("WBIF").
Company Contact Information
+355 42 389 389
ProCredit Bank Albania Dritan Hoxha Nd.92, H15 Njesia Bashkiake Nr.11,Tirana, ZIP Code 1026
PSD last updated
12 May 2022
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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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).
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