As stated on the project disclosure page, the EBRD is considering for approval in December 2023 an increase in the framework of uncapped unfunded portfolio guarantees to up to EUR 805 million, from EUR 470 million already approved in December 2022, to be provided by the EBRD, as an implementing partner under the European Union's InvestEU programme, to eligible partner financial intermediaries (PFIs) in the 12 EU countries of operations (EU12 CoOs). The portfolio guarantees will cover newly-generated portfolios of loans financing eligible green projects related to buildings or sustainable transport. The Bank's guarantees will be partially covered by first loss risk cover provided by the European Commission (EC) under InvestEU.
The overall objective of the Framework is to contribute towards improved sustainability and minimised climate and environmental footprint of the EU economies where EBRD operates, address the vital issue of carbon intensity of the economies of the EU12 CoOs and the energy crisis triggered by the Russian war on Ukraine. This will be done through enhanced availability of dedicated finance and tailored technical assistance to facilitate and upscale investments in (i) energy efficiency and renewable energy in buildings across sectors and (ii) sustainable mobility.
As stated by the EBRD, this Framework is not categorised, however sub-operations will be categorised as FI (ESP 2019) and subject to environmental and social due diligence.
As stated by the EBRD, the programme will provide guarantees to financial institutions, including commercial banks and leasing companies, operating in the EBRD EU countries of operations (Bulgaria, Croatia, Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Poland, Romania, Slovenia, Slovak Republic).
No project contacts provided at the time of disclosure.
ACCESS TO INFORMATION
You can request information by emailing: email@example.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: firstname.lastname@example.org 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