A senior unsecured loan of up to EUR 0.5 million to be provided in one single tranche under the Western Balkans Youth in Business Programme ("WB YiB")
The Loan proceeds will be used for on-lending to eligible micro- and small sized enterprises ("MSEs") whose overall operational management responsibility or majority ownership is held by a person (or persons) under the age of 35 ("Youth MSEs") in Bosnia and Herzegovina ("BiH") in accordance with the Policy Statement.
ETI score: 72
The project contributes to the objectives of the FIF, supporting the Transition Impact qualities of Inclusive and Competitive:
Inclusive: The project will contribute to the economic inclusion of young enteprenuers by supporting Youth MSEs' access to finance and business advisory services, while demonstrating the business case for scaling-up lending to the Youth MSE segment.
Competitive: Transition impact is expected to derive from market expansion and through building a more competitive financial sector by strengthening the capacity of the Partner Financial Institutions (PFIs) for financing Youth MSEs.
MIKROKREDITNA FONDACIJA MI-BOSPO TUZLA
Mikrokreditna Fondacija Mi-Bospo Tuzla ("MiBospo") is a long-standing EBRD partner since 2007 and specialised Micro Finance Institution ("MFI") in BiH, focused on loans to female borrowers, women enterpreneurs and agro clients. At YE2021, it is the 4th largest MFI by total assets with 7% market share. Headquartered in Tuzla, MiBospo has 193 employees and serves ca. 25,500 clients both in the Federation of BiH and in the Republika Srpska through 38 offices.
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing via MiBospo with TC and First Loss Risk Cover into a package that promotes investment in Youth MSEs in BiH.
Furthermore, MiBospo will make use of EBRD expertise for the adoption of gender standards and equal opportunities action plans. In particular, MiBospo will support the EBRD's policy dialogue and actively participates in the events, workshops and trainings aimed at improving their understanding of the segment and the challenges that women face in accessing finance as part of the EBRD-led nation/region-wide public-private policy dialogue activities.
Environmental and Social Summary
Categorised FI (2019 ESP). MiBospo is an existing client and will be required to continue to comply with PRs 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019. The annual environmental and social report for 2021 will be reviewed and any potential gaps addressed before signing. MiBospo 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.
Technical Cooperation and Grant Financing
TC: The Programme is supported by TC funds in the amount of EUR 3.54 million (total for the Programme), and in this case will support MiBospo's capacity building and Youth MSEs, provided by the government of Sweden.
Non-TC: Up to EUR 0.05 million is provided by EBRD Shareholders Special Fund in the form of First Loss Risk Cover to MiBospo in accordance with the Policy Statement.
Company Contact Information
PSD last updated
13 Jun 2022
Further information regarding the EBRD’s approach to measuring transition impact is available here.
For business opportunities or procurement, contact the client company.
For business opportunities with EBRD (not related to procurement) contact:
Tel: +44 20 7338 7168
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 firstname.lastname@example.org. 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 email@example.com to get guidance and more information on IPAM and how to submit a request.