GrCF2 W2 - Belgrade Public Buildings (EBRD-51421)

  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
  • Serbia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
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."
Voting Date
Dec 14, 2021
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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 5.63 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.
Project Cost (USD)
$ 17.47 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 15.52
Converted using 2021-12-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 10, 2023

Disclosed by Bank Dec 7, 2021

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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 bank's website, this project involves the provision of a senior loan of up to EUR5 million to the City of Belgrade for the implementation of energy efficiency and associated structural measures in 4 public buildings: Emergency Medical Institute, City Library, Student Healthcare Centre and Student Hospital. Most of the buildings were constructed in the 1920s and have not undergone any major refurbishment since then. The project is expected to bring significant energy efficiency improvements and will lead to the reduction of CO2 emissions. The Project will be co-financed by investment and technical assistance grants of up to EUR11 million provided by the European Union from the Instrument for Pre-Accession Assistance with the Republic of Serbia.

The Project is intended to to support the substantial energy efficiency renovation of four public buildings located in Belgrade, Serbia. The works include the addition of thermal insulation, the repair of building envelopes, the upgrade of heating, ventilation and cooling systems, and the replacement of lighting systems. Energy efficiency improvements will result in energy cost savings, the reduction of carbon dioxide emissions and improved energy efficiency.

The Project forms part of the Bank's engagement with Belgrade under the EBRD Green Cities, as such it is considered as a follow-on investment under Green Cities Framework 2 Window II (the "GrCF2 W2") from Belgrade's Green City Action Plan (the "GCAP"), which was approved in June 2021.

Investment Description
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Contact Information
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The City of Belgrade
+381 11 3229-678
Dragoslava Jovanovica 2, Belgrade, Serbia


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