Translated version of this PSD: Serbian
Project Description
The provision of long-term debt financing to ProCredit Bank AD Belgrade for financing energy efficiency and renewable energy projects in Serbia under the Western Balkans Sustainable Energy Financing Facility II (WeBSEFF II).
Project Objectives
There is substantial potential for energy efficiency improvements and development of renewable energy projects in Serbia, as evidenced by the country's high energy intensity. The project combines long-term financing, technical cooperation and investment incentives for sub-borrowers into a comprehensive package designed for realising the potential for energy efficiency improvements.
Transition Impact
The project contributes to improvements in energy efficiency and increase in the use of renewable energy in Serbia, where the sustainable energy gap remains high. Its implementation is expected to generate demonstration effect of improved energy efficiency by establishing the benefits of energy conservation to a wide range of sub-borrowers.
Client Information
PROCREDIT BANK AD BELGRADE
ProCredit Bank is a medium-sized development-oriented commercial bank in Serbia specialised in lending to SMEs and agricultural clients. With total assets of EUR 811.1 million and equity totalling EUR 122.4 million, ProCredit Bank ranks as the 12th largest bank in Serbia as of December 2017.
ProCredit Bank is part of the ProCredit group, which is led by its Frankfurt-based parent company, ProCredit Holding AG & Co. KGaA. As the sole owner of ProCredit Bank, ProCredit Holding holds 100% of its shares.
EBRD Finance Summary
EUR 10,000,000.00
Total Project Cost
EUR 10,000,000.00
Environmental and Social Summary
Categorised FI (ESP 2014): ProCredit Bank is an existing client of the EBRD. An independent monitoring visit confirmed that ProCredit Bank has in place the necessary environmental and social (E&S) policies, procedures and risk assessment tools in line with the EBRD's E&S requirements.
ProCredit Bank will be required to continue to comply with Performace Requirements 2, 4 and 9 and implement sub-projects in accordance with the EBRD's Environmental and Social Procedures for Corporate Loans, SME and Micro Loans and apply the EBRD's eligibility criteria for renewable energy and energy efficiency investments to sub-projects in accordance with the WeBSEFF II Policy
Statement. ProCredit Bank will also be required to continue submitting the EBRD FI Sustainability Index on an annual basis.
Technical Cooperation
The project will be supported by a comprehensive technical assistance to ProCredit Bank and subborrowers to facilitate the project preparation and successful implementation of the WeBSEFF II. The technical assistance is funded by the European Union and the EBRD Shareholders' Special Fund.
Company Contact Information
Tamara Cvijetic
ta.cvijetic@procreditbank.rs
+381 11 207 7815
www.procreditbank.rs
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
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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.
