Project Description
A EUR 375 million framework consisting of EBRD loans supported by InvestEU first loss guarantees to be extended to primarily private companies for investments in low-carbon transition, green energy, transport and buildings, resource efficiency, circular economy and other sustainability areas.
The Framework will support Green Economy Transition investments in a broad range of corporate and infrastructure sectors (non-FI sectors) in the EBRD Countries of Operations - EU Member States (Bulgaria, Croatia, the Czech Republic, Greece, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia, Romania). The InvestEU first loss guarantee will encourage delivery of innovative investments, addressing market failures and sub-optimal investment situations.
Minimum and maximum principal amount of a sub-project is set at EUR 1 million and EUR 50 million (or the equivalent in another currency of EBRD Countries of Operations - EU Member States, "EBRD's EU CoOs").
Project Objectives
Sub-projects will need to fall under a Policy Objective as defined under the Sustainable Infrastructure Window General Debt Product, in line with the EU policy objectives appropriately adapted to the specificity of EBRD's EU CoOs, as well as make either an 'essential' or 'partial' contribution to climate and environment as defined under Annex 1 of the InvestEU Climate and Environmental Tracking Guidance.
Transition Impact
Each sub-project will be assessed and rated on the basis of its individual merits. Sub-projects under the framework are likely to target Green as one of the transition qualities.
Client Information
The borrowers under the Framework will be primarily private companies (domestic or foreign) or special-purpose vehicles.
EBRD Finance Summary
EUR 375,000,000.00
Up to EUR 375 million of debt financing.
Total Project Cost
EUR 375,000,000.00
Up to EUR 375 million EBRD loans supported by up to EUR 80 million InvestEU guarantees for investments in a broad range of corporate and infrastructure sectors.
Additionality
Additionality will likely stem from one or more of the following areas: financing structure, innovative financing structures and/or instruments, and standard setting: helping projects and clients achieve higher standards.
Environmental and Social Summary
The Framework is not categorised under the Bank's 2019 Environmental and Social Policy, however each sub-project will be categorised on a case-by-case basis, and will be subject to environmental and social due diligence (ESDD). The ESDD will also address the environmental and social as well as the climate requirements of InvestEU's Sustainability Proofing Guidance. E&S consultants will be engaged to support ESDD based on the risks and impacts associated with sub-projects. An environmental and social action plan (ESAP) and SEP (if required) will be developed for each sub-project to ensure compliance with EBRD's E&S requirements and those of InvestEU. All sub-projects categorised as "A" will be subject to ESIAs (including disclosure) and submitted to Board for approval regardless of the size of the loan.
Technical Cooperation and Grant Financing
Concessional Finance:
Under this Framework EBRD will deploy up to EUR 80 million of InvestEU guarantees which, subject to need and commercial requirements of sub-projects, will be provided as 20% or 25% first loss cover for EBRD debt. As the limit for covered financing in any sub-project is EUR 50 million, any single sub-project will not benefit from more than EUR 12.5 million of InvestEU guarantee.
Donor Funded TC:
Subject to need and requirements, sub-projects may be supported with TC from available resources of up to EUR 60.2 million provided for Technical Assistance (TA) to support the roll-out of the guarantee and/or contribute to the InvestEU policy objectives. TC is provided to a large extent for project preparation and implementation and to a limited extent for market development and capacity building. In addition, up to EUR 13.2 million are provided for TA to support specifically the Bank's response to the war on Ukraine.
Company Contact Information
For business opportunities or procurement, contact the client company.
PSD last updated
17 Apr 2023
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
Email: projectenquiries@ebrd.com
For state-sector projects, visit EBRD Procurement:
Tel: +44 20 7338 6794
Email: procurement@ebrd.com
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 compliance@ebrd.com. 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 ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.
