GEFF Western Balkans Podgoricka Banka (EBRD-50969)

Countries
  • Montenegro
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
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 27, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Podgoriika banka AD Podgorica
The holder of the loan, grant, or other investment.
Investment Amount (USD)
$ 2.36 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 2
Converted using 2020-10-27 exchange rate.
Project Cost (USD)
$ 2.36 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 2
Converted using 2020-10-27 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 20, 2021

Disclosed by Bank Nov 3, 2020


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Project Description

Provision of a senior unsecured loan  project contributes to the objectives of GEFF WB, supporting the Green and Competitive tranisition qualities.

The project will contribute towards building a green economy by facilitating the expansion of residential energy efficiency lending in Montenegro and positive demonstration effects of green economy projects.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Biljana Sestovic, Bojan Dozic
biljana.sestovic@pgbanka.me
+382 (0)20 415 693

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