Koncar Croatia (IFC-51959)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Croatia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
B
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 24, 2026
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
Koncar d.d.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • Infrastructure
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 342.06 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)
$ 420.96 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 370
Converted using 2026-07-24 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 15, 2026

Disclosed by Bank Aug 3, 2026

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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, IFC will support the investment program of KONCAR d.d., which includes investments in new production capacity for critical grid equipment, logistics infrastructure, energy efficiency, research and development capabilities, and other initiatives that support the Group’s growth.

Associated Advisory Engagement: IFC is exploring the provision of advisory support to the Group in relation to its workforce policies.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project according to IFC's 2012 Policy on Environment and Social Sustainability. The proposed project will have limited adverse E&S risks and/or impacts that are few, site-specific, largely reversible, and readily addressed through existing mitigation measures and good international industry practices (GIIP). Key E&S risks and issues associated with this project include: (i) the adequacy and consistent application of the corporate and facility level E&S management systems and organizational capacity to assess and manage E&S risks and impacts during the construction and operational phases of the sub-projects; (ii) labor and working conditions management (including construction contractors, sub-contractors and immigrant workers), OHS, and prevention of Gender-based Violence and Harassment (GBVH) risks; (iii) hazardous materials & waste management (including potential asbestos); (iv) supply chain E&S risk management; (v) emergency preparedness and response including life and fire safety; and (v) stakeholder engagement and community grievance management.

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

IFC’s financing is an up to €120 million A Loan. Total Project cost is estimated at €370 million.

IFC's Investment as Approved by the Board: Loan 342.06 million (USD)

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Headquartered in Zagreb, Croatia, KONCAR is a leading South-East European industrial and engineering group that designs, manufactures, and services equipment for critical energy and transport infrastructure. KONCAR is listed on the Zagreb Stock Exchange. Its shareholder base consists predominantly of local institutional investors, including pension funds and insurance companies, with no single controlling shareholder.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Koncar Group Inc. Client -

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.

For Inquiries About the Project, Contact:
KONCAR d.d.
Mrs. Kristina Mumic
Head of Sustainability Department
+385 98 266 530
kristina.mumic@koncar.hr
Fallerovo setaliste 22, 10000 Zagreb, Croatia
www.koncar.hr

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works