A senior unsecured loan of up to EUR 1.0 million to be provided in one single tranche under the Western Balkans Green Economy Financing Facility II (“WB GEFF II”).
The facility will support investments in high-performance green technologies, materials and solutions undertaken in privately-owned residential dwellings or buildings. Sub-projects will be selected according to technical and financial eligibility criteria set forth in the Policy Statement for WB GEFF II. 100 per cent of the use of proceeds will be related to Green Economy Transition investments.
ETI score: 80
The project contributes to the overall objectives of WB GEFF II, supporting the Green and Competitive TI quality.
Green: The project will contribute towards building a green economy by facilitating the expansion of lending for investments into high performance residential green economy technologies.
Competitive: The project will contribute towards building a more competitive financial sector by strengthening the capacity of the Partner Financial Institutions for financing green economy projects.
MIKROKREDITNA FONDACIJA MI-BOSPO TUZLA
Mikrokreditna Fondacija Mi-Bospo Tuzla (“MiBospo”) is a long-standing EBRD partner since 2007 and a specialised Micro Finance Institution (“MFI”) in Bosnia and Herzegovia (“BiH”), focused on loans to female borrowers, women enterpreneurs and agro clients. At YE2021, it is the 4th largest MFI by total assets with 7% market share. Headquartered in Tuzla, MiBospo has 193 employees and serves ca. 25,500 clients both in the Federation of BiH and in the Republika Srpska through 38 offices.
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing via MiBospo with TC and investment incentives into a package that promotes residential green economy investments in Bosnia and Herzegovina.
Furthermore, MiBospo will make use of EBRD expertise for the adoption of gender standards and equal opportunities action plans. In particular, MiBospo will promote the benefits of energy efficient investments for female borrowers via dedicated marketing channels and outreach activites, such as social media, product campaigns, events and other promotion activites.
Environmental and Social Summary
Categorised FI (2019 ESP). MiBospo is an existing client and will be required to continue to comply with PRs 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019. The annual environmental and social report for 2021 will be reviewed and any potential gaps addressed before signing. MiBospo will be required to continue to comply with the EBRD’s Environmental and Social Risk Management Procedures for Corporate Loans, SME and Micro Loans, and submit annual environmental and social reports to the Bank. The Project’s use of proceeds may include solar sub-projects. Such sub-projects will be managed in line with ‘The Proposed Management Approach for Solar Supply Chain Risk Management’ (CS/FO/21-35) and any subsequent developed guidance under that approach. The GET share associated with the GEFF transaction (OpID 53807) is 100%.
Technical Cooperation and Grant Financing
TC: up to EUR 2.965 million have been set for TC support at the Facility level. The TC is essential to supporting the preparation, implementation and monitoring of the Facility. The TC fund for the proposed transaction is sourced from EBRD Shareholders Special Fund and the Government of Austria.
Non-TC: up to EUR 0.2 million (for this project) for investment incentives to sub-borrowers for the implementation of eligible sub-projects in line with the Policy Statement. Grant funds are provided by the European Union through the Western Balkans Investment Framework.
Company Contact Information
PSD last updated
13 Jun 2022
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (eg through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organizations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
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