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FIF - Addiko Bank Sarajevo - SME loan


Bosnia and Herzegovina

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

08 Aug 2023



PSD disclosed:

14 Aug 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 secured loan to Addiko Bank dd Sarajevo ("ABSA") of EUR 3 million under the Financial Intermediaries Framework ("FIF") for on-lending to small and medium enterprises (SMEs) in Bosnia and Herzegovina. 

Project Objectives

The proposed project will improve access to finance for SMEs, which are the main source of employment in the private sector and a major contributor to the economy in Bosnia and Herzegovina. The bank is successfully implementing a SME-focused strategy and well-positioned to provide much needed financing to smaller businesses in the country via its regional branch network. The focus will also be on lending in the regions outside the capital and attracting new SME clients. In addition, the project will help in the rollout of the Business Academy to boost the management capacity of SMEs across the country.

Transition Impact

ETI score: 60

The project contributes to the objectives of the EBRD Financial Intermediary Framework, supporting the Competitive and Resilient transition qualities. The project will improve the availability of medium-term funding for SMEs, which are the main source of employment in the private sector and a major contributor to the economy. With its wide regional outreach and SME-focused strategy, ABSA is well-positioned to provide much-needed financing to smaller businesses and to contribute to the development of SMEs in the country.

Client Information


ABSA is a universal bank based in Bosnia and Herzegovina with a focus on retail and SME clients. ABSA is a fully owned subsidiary of Addiko Bank AG. ABSA ranks 16th in BiH banking market by assets with a market share of 3% as of YE2022.

EBRD Finance Summary

EUR 3,000,000.00

Total Project Cost

EUR 3,000,000.00


The EBRD loan will provide much-needed mid-term financing to help address issues of limited availability of medium-to long-term financing for SMEs. EBRD along with other IFIs is one of the rare providers of mid to long term funding which local banks need to reduce maturity mismatches on their balance sheets.  

ABSA will be following and enforcing clearly defined eligibility criteria for sub-borrowers, EBRD environmental and social standards, higher financial covenants and reporting requirements, thus contributing to the competitiveness and resilience of the financial sector as intended under the FIF Framework.  

ABSA will make use of EBRD expertise for the adoption of gender standards and/or equal opportunities action plans. As part of the gender additionality commitment, the client will ensure that the newly developed Business Academy will provide training to female business leaders and managers.

Environmental and Social Summary

Categorised FI (ESP 2019). ABSA will be required to comply with PR2 and PR 4 for their internal operations and PR9 and relevant EBRD's E&S procedures to the investment activity associated with the Bank's funds. ABSA will have to apply E&S Exclusion List and Referral List under the ESP 2019. If EBRD funding may be used for financing solar PV technologies these will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach. 

Technical Cooperation and Grant Financing

The TC includes support by ASBA team, with a total of up to EUR 40,000 grant from the EU/SBIF that will be used for the development of training modules for a Business Academy to boost the management capacity of SME beneficiaries, especially family owned SMEs that are facing a generational succession of their management (SMEs across Bosnia and Herzegovina will be eligible for the academy). The Business Academy will focus on priority areas such as leadership and communications, innovation and entrepreneurship, financial reporting, digital transformation, ESG and succession. 

Company Contact Information

Zvonimir Curic
Addiko Bank d.d. Trg solidarnosti 12, 71000 Sarajevo, Bosnia and Herzegovina

Implementation summary

PSD last updated

14 Aug 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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