AASF-Procredit Bank Albania Risk Sharing Facility (EBRD-48326)

Countries
  • Albania
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
FI
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."
Voting Date
Jul 20, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
PROCREDIT BANK (ALBANIA) SH. A
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 16.40 million
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.
Currency conversion note:
Bank reported EUR 15,000,000.00
Converted using 2016-07-20 exchange rate.
Project Cost (USD)
$ 32.80 million
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.
Currency conversion note:
Bank reported EUR 30,000,000.00
Converted using 2016-07-20 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 8, 2017

Disclosed by Bank Jun 17, 2016

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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.
The EBRD is providing an unfunded risk sharing facility of up to EUR 15 million to ProCredit Bank Albania (PCBA), covering up to 50% of a portfolio of eligible loans to the agribusiness sector in Albania. The proposed Project is the first unfunded risk sharing transaction under the Albania Agribusiness Support Facility (AASF). The overall objective of the Project is to promote and enhance access to finance for agribusinesses in Albania by addressing the financing gap as one of the main challenges for the sector's development.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
PROCREDIT BANK (ALBANIA) SH.A. is the 10th largest bank in Albania with a leading position in lending to SMEs and agricultural clients. With total assets of EUR 242m as of 31 March 2016 it accounts for 2.5% of banking assets in Albania. ProCredit Bank Albania is a member of the ProCredit Group, which is led by its Frankfurt-based parent company, ProCredit Holding. As the sole owner of ProCredit Bank Albania, ProCredit Holding holds 100% of PCBA shares.

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.
ProCredit Bank Albania informacion@procredit-group.com 00355 42 389 389 www.procreditbank.com.al Rr. Dritan Hoxha; Nd. 92, H. 15, Njësia Bashkiake Nr. 11 Tirana, Albania 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, 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.

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How it works