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AATSF - Union Bank



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

27 Jun 2023



PSD disclosed:

30 Jun 2023

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Provision of a senior unsecured loan of up to EUR 2.0 million to be provided in two equal tranches to UB under the Albanian Agribusiness and Tourism Support Framework ("AATSF" or the "Framework"). The second tranche will be uncommitted. 

Project Objectives

The overall objective of the credit line is to promote sustainable lending to agribusiness and tourism sectors in Albania and enhance access to finance for the sectors. 25% of the use of proceeds will be related to investments eligible under the EBRD's Green Economy Transition ("GET") approach.

Transition Impact

ETI score: 55

The project contributes to the objectives of the FIF, supporting the Transition Impact qualities of Competitive and Resilient:

Competitive: The loan is expected to: (i) support capacity building of Union Bank, by  improving products, policies and procedures for agribusiness and tourism lending and, (ii) to promote skills transfer and know-how for companies in both the agribusiness and tourism sector through technical, financial and business advisory support.

Resilient: The facility is expected to increase availability of financing to agribusiness and tourism sectors, which are perceived as risky and are marginally served in the country. Engaging Union Bank to lend to a relatively nascent, but strategically promising tourism industry alongside agribusiness would allow reaching out to more sub-borrowers, including companies which would be considered too risky to engage otherwise.

Client Information


Union Bank ShA ("UB") is a mid-size bank in Albania, mainly focusing on SME and retail lending. As of YE2022, UB was the 8th largest bank in the country (out of 11) in terms of both assets and loan portfolio, with 4.9% and 6.0% market share, respectively. 

EBRD Finance Summary

EUR 2,000,000.00

Total Project Cost

EUR 2,000,000.00


Additionality is achieved by combining the necessary long-term financing with First Loss Risk Cover, targeted investment incentives and Technical Cooperation into a package that promotes on-lending to the agribusiness and tourism sectors in Albania.

Technical Cooperation and Grant Financing

TC: UB will benefit from the AATSF technical assistance package including customised and targeted capacity-building support for the Company, as needed and expected, to be focused on developing/ improving of agribusiness and tourism product strategy, marketing, and developing reporting as required by the EBRD under the facility, as well as advisory services to Sub-borrowers.

Non-TC: Grant funds of up to EUR 0.6m, of which EUR 0.4m contributed by the Government of Albania in the form of FLRC (20% of the loan amount) for the benefit of UB, up to EUR 0.1m of investment incentives to sub-borrowers in the agribusiness sector contributed by the Government of Albania and EUR 0.1m of Investment Incentives to sub-borrowers in the tourism sector contributed by the EU.

Company Contact Information

Fatjona Delaj
+355 4 238 9023
Bulevardi Zogu i I, Sheshi Ferenc Nopçka, Nd. 5, H. 3, Njësia Bashkiake Nr. 9, Kodi Postar 1016, Tirana, Albania

PSD last updated

30 Jun 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

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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