GEFF - Western Balkans - Komercijalna Banka Skopje (EBRD-51726)

Countries
  • Macedonia
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 6, 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
KOMERCIJALNA BANKA AD SKOPJE
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1.17 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 1
Converted using 2020-10-06 exchange rate.
Loan Amount (USD)
$ 1.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 28, 2020

Disclosed by Bank Oct 8, 2020


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Can you contribute information about this project?
Contact the EWS Team

Project Description

According to EIB website, the transaction supports investments in high-performance energy efficiency technologies, materials and solutions undertaken in, or in relation to, privately-owned residential dwellings or buildings ("sub-projects") in North Macedonia. Sub-projects are selected according to technical and financial eligibility criteria set forth in the Policy Statement for GEFF. 100% of the use of proceeds will be related to Green Economy Transition investments.   

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

KBS is the largest bank in the Republic of North Macedonia with assets of EUR 1.87bn and a market share of 22.7% at end-2019. The company is headquartered in Skopje and services the entire territory of North Macedonia through a network of 11 regional branches as well as 54 city-branches served by a total of 1,012 employees.


Contact Information

Julijana Liptova
Julijana.Liptova@kb.com.mk 
+389 2316 8283
www.kb.com.mk 
Orce Nikolov br. 3 P.O.B. 563 1000 Skopje Republic of North Macedonia

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