Early Warning System

Countries

Serbia

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Borrower

Government of Serbia - Ministry of Mining and Energy

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Law and Government
Technical Cooperation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Grant

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

Not Disclosed

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 14, 2025

Disclosed by Bank Dec 5, 2025

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the Republic of Serbia (RS) has committed to aligning with the European Green Deal's key elements by signing the Sofia Declaration on the Green Agenda for the Western Balkans (Sofia Declaration) in 2020. The Declaration, inter alia, acknowledges the need to transform the economies in the region towards climate neutrality and align with international commitments enshrined in the Paris Agreement, the Energy Community Treaty, and the European Green Deal. Given the many challenges arising from the urgency of radically transforming Serbia's energy sector, energy efficiency has emerged as a priority for the Government of Serbia (GoS), which reflects similar trends in the EU which are summarised in the principle "Energy Efficiency First".

To that end, the RS adopted the new Law on Energy Efficiency and Rational Use of Energy (LEERUE)1 in April 2021. Among many novel provisions, the LEERUE stipulates the establishment of the Administration for Financing and Promoting Energy Efficiency (EEA), and regulates its operation. Factually the EEA started its operation at the beginning of 2022 as an administrative body within the Ministry of Mining and Energy (MoME) but as a separate legal entity. Recognising the need for prompting investments in the energy-demand side, of which the building stock comprises the largest share, the Government endorsed the programming of the technical assistance under the EU IPA III Annual Action Programme for 2021, to accelerate the capacity building of the recently established EEA, which is envisaged to implement most of the energy efficiency funding provided by the GoS. Besides, the GoS welcomed the assistance of IFIs, such as EBRD and WB in facilitating the large-scale building renovation wave in Serbia.

The role of Project Manager is to support the implementation of the Agreement "Support for operation of the Administration for Financing and Promoting Energy Efficiency" - (hereinafter "Action"). Beneficiary of the Action is Serbian Ministry of Mining and Energy (hereinafter "MoME"). The donor of the Action is the European Union. The implementing organization is the EBRD.

The overall objective of this Action is to support the decarbonisation of the Serbian economy through improvement of energy efficiency and promoting efficient use of energy sources. This Action intends to address in particular the poor conditions and low energy performance of the building sector in Serbia and in turn promote compliance with the EU acquis and international obligations and support the country meet its environmental, GHG emission reduction and energy commitments.

The specific objective of the Action is to build and strengthen capacities of the Administration for Financing and Promoting Energy Efficiency for management of the EU funds and to develop, implement and promote support schemes for energy efficiency investments at higher scale with specific focus on building renovation.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Investment amount not available at the time of disclosure.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html