Croatia Residential Energy Financing Facility

Location:

Croatia

Project number:

47051

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

25 Nov 2015

Status:

Board Approved

PSD disclosed:

23 Oct 2015

Sub-projects signed under this framework

Translated version of this PSD: Croatian

Project Description

The EBRD will provide senior loans for a total amount of up to EUR 60 million to financial institutions operating in Croatia, which will on-lend EBRD funds to individuals or vendors for energy efficiency projects in the residential sector.

Project Objectives

Significant challenges remain with respect to energy efficiency in Croatia. There is a significant potential for energy efficiency improvement in the residential sector which is among the largest energy end-users. In accordance with the NEEAP (National Energy Efficiency Action Plan) 34% of the overall energy saving target for Croatia should come from the residential sector. The proposed facility aims to address the need for continued energy efficiency improvements in the residential sector in line with this goal.

Transition Impact

The facility will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency (EE) lending to households in Croatia which is characterised by a significant EE potential in the residential sector.

It will further demonstrate to commercial banks operating in Croatia the market potential of the EE sector and foster the mobilisation of the private sector financing for this, currently underserved, sector.

The project will also promote the development of a market for EE technologies, appliances and equipment by stimulating demand through market awareness campaigns and the introduction of an innovative and efficient financing model for high-performance residential energy efficiency technologies.

In addition, the project is expected to transfer and build expertise and skills on several levels:

(i) participating banks will build expertise in assessing the risks and benefits associated with small scale EE investments;

(ii) transfer of knowledge and technical skills amongst local experts will further build local expertise in appraising sustainable energy projects and applying best available technologies.

Client Information

It is envisaged that three banks will participated in the facility.

EBRD Finance Summary

EUR 60,000,000.00

Total Project Cost

EUR 60,000,000.00

Environmental and Social Summary

Categorised FI . All Participating Financial Institutions (PFIs) under the SEFF will be required to comply with EBRD's PRs 2, 4 and 9. Eligible Sub-projects will be required to comply with national environmental, health and safety, social and labour regulations as well as the EBRD's energy efficiency and/or renewable energy eligibility criteria. All PFIs will be required to submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

The Project is supported by a TC of up to EUR 1.8 million. Out of EUR 1.8 million, 600,000 were allocated from SSF budget. Three consultants will support the implementation of the Facility. Two consultants have already been engaged for the project preparation phase. Another consultant will execute the implementation support including marketing and general awareness raising activities; support with pipeline development; capacity building for participating banks; support the administration, monitoring and reporting on the Facility.

Company Contact Information

Information will be presented separately for sub-projects.
 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.