Early Warning System

Regions

Europe and Central Asia

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

Countries

Serbia

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

Proposed

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, 2022

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

BANCA INTESA AD BEOGRAD

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

Sectors

Finance

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

Investment Amount (USD)

$ 5.32 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)

$ 5.32 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 5
Converted using 2023-01-06 exchange rate.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 6, 2023

Disclosed by Bank Nov 8, 2022

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.

According to the bank website, this project involves the:

"Provision of a senior unsecured loan in the amount of up to EUR 5 million in a single tranche to Banca Intesa Beograd ("BIB"), a joint-stock company incorporated in Serbia, for on-lending to eligible women-led SMEs in line with the criteria under Western Balkans Women in Business Programme Phase II ("WB WiBP II"). The proposed operation is the sixth consecutive loan to BIB under WB WiBP following the successful utilisation of the previous facilities."

The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services.

EBRD FINANCE SUMMARY

EUR 5,000,000.00

TOTAL PROJECT COST

EUR 5,000,000.00

ADDITIONALITY

The project will support the market segment as a whole and enable the continuation of the successful implementation of the previous five WiB projects.

ENVIRONMENTAL AND SOCIAL SUMMARY

Categorised FI (2019 ESP). BIB is an existing client and their performance to date has been aligned with EBRD performance requirements for FIs. They have been reporting as required throughout the relationship with EBRD and have maintained required E&S processes and procedures over this time. They will continue to apply the required PRs 2, 4 and 9 to this new transaction, along with the Bank's E&S Risk Management Procedures for Corporate, SME and Micro Loans. Solar sub-projects will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' and any subsequent guidance developed under that approach. Sub-borrowers financed through BIB's loans will continue to be required to comply with national environmental, health, safety and labour (EHSL) requirements.

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.

Banca Intesa Belgrade ("BIB") is the largest bank in Serbia and among the leading banks in corporate and retail banking. As of 1H22, BIB had a market share of 14.6% by total assets, 15.8% by net loans and 15.7% by deposits. BIB has been one of the most profitable banks in Serbia for many years, thanks to economy of scale, good diversification and efficient operations. It has approximately 3,000 employees and a branch network of 155 offices across Serbia.

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.

COMPANY CONTACT INFORMATION

Snezana Topalovicsnezana.topalovic@bancaintesa.rs381 11 201 1400381 11 201 1260http://www.bancaintesa.rs/Milentija Popovica 7b
11070 Novi Beograd

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