Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Bosnia and Herzegovina

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

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

Mar 22, 2023

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

TransCo

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 16.53 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 15.4
Converted using 2023-01-09 exchange rate.

Project Cost (USD)

$ 31.88 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 4, 2023

Disclosed by Bank Jan 9, 2023

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

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 project involves the provision of a non-sovereign unsecured corporate loan of up to EUR 15.58 million to "Elektroprenos Elektroprijenos BiH" a.d. Banja Luka ("TransCo" or "client"), a transmission company in Bosnia and Herzegovina as part of a EUR 30.1 million investment program. The Bank's loan will finance the installation of variable shunt reactors in the transmission system, which will solve issues with high voltages in the 400 kV and 220 kV transmission system. The company will contribute EUR 14.3 million from its own resources. Up to EUR 260,000 of donor funds will be provided for technical assistance projects. TransCo is the transmission company covering the entire territory of BiH and a Bank client since 2006.

The transmission system of BiH has been constantly operating with high voltages over the limit defined by the Grid Code. The loan will be used for the installation of variable shunt reactors in the transmission system which will solve issues with high voltages in the 400 kV and 220 kV transmission system. The proposed installation of a variable shunt reactors system will bring numerous benefits, including: (1) improve transmission system reliability, (2) enable greater integration of renewable energy sources into the transmission system, (3) reduce active power loss, and (4) increase cross-border capacity.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

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.

As stated by the EBRD, the borrower is TransCo, a transmission company in BiH. TransCo is owned by the governments of the two entities of BiH, the Federation of Bosnia and Herzegovina (59%) and the Republika Srpska (41%). The client operates under a licence granted by the State Electricity Regulatory Commission.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	"Elektroprenos Elektroprijenos BiH" a.d. Banja Luka (TransCo)	Client	Energy

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.

Client - "Elektroprenos Elektroprijenos BiH" a.d. Banja Luka:

Mato Zaric
Email: mato.zaric@elprenos.ba
Phone: +387 51 246 500
Website: https://www.elprenos.ba/
Address: Marije Bursac 7a, Banja Luka, 78000 Bosnia and Herzegovina

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