Early Warning System

Regions

Europe and Central Asia

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

Countries

Kosovo

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

Dec 11, 2024

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

Government of Kosovo, Kosovo Energy Efficiency Fund

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 Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 54.88 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 50
Converted using 2024-10-08 exchange rate.

Loan Amount (USD)

$ 54.88 million

Project Cost (USD)

$ 80.58 million

Bank Documents

Government Documents

Energy Strategy of the Republic of Kosovo 2022-2031

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 6, 2025

Disclosed by Bank Oct 8, 2024

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 EBRD, the project consists of the provision of a sovereign loan of up to EUR 50 million to the Republic of Kosovo, to be on-lent to the Kosovo Energy Efficiency Fund to finance energy efficiency measures in up to 400 public buildings in Kosovo, including administrative, education and healthcare facilities at central and municipal levels, and publicly-owned enterprises.

The Project will be co-financed with investment grants of up to EUR 20 million to be provided by the Regional Energy Efficiency Programme for the Western Balkans, funded by the European Union and "Danish Fund for Kosovo" in Partnership for Green and Just Energy Transition in Kosovo.

The project objectives are:

- Improvement of the environmental sustainability of public buildings in Kosovo by implementing EE measures that will lead to energy savings and reduction of CO2 emissions;
- Improvement of the energy performance of the renovated buildings by at least two Energy Performance Certificate classes;
- Improvement of comfort levels and quality in the renovated buildings, which is very important for buildings of this nature (children and healthcare).

The Project entity - the Kosovo Energy Efficiency Fund - is an independent public entity established in 2019 by the Law on Energy Efficiency (EE), to implement EE investments in line with Kosovo's Energy Strategy and National Energy Efficiency Action Plan. KEF is supported by the European Union through IPA funds, and the World Bank for both investments and capacity building technical assistance. As of FY 2022, the KEEF had a balance sheet amounting to EUR 8.5 million, including long term investments of EUR 4.3 million, equity/reserves of EUR 3.5 million and liabilities of 5 million in a form of deferred revenues, funded from the EU IPA and World Bank. In 2022, KEEF implemented EE projects amounting around EUR 4 million. Direct project beneficiaries will include central government institutions, independent public entities/agencies, municipalities, and other municipal level organisations.

The following Technical Cooperation assignments are envisaged as part of the Project:

Pre-signing:
- TC1 - Feasibility Study, to develop a prioritised investment programme and advice on the implementation strategy, including the design of EPCs to be used under the Project. (Ongoing)
- TC 2 - Environmental and social due diligence of the Project. (Ongoing)

Post-signing:
- TC3 - Advance procurement to assist KEEF with the procurement of PIU support, design and supervision consultant and provide training to the Fund in relation to EBRD's Procurement Policies and Rules.
- TC4 - Project Implementation and Supervision Support to assist with project implementation, including engineering design, procurement, preparation and evaluation of tenders, contract award and administration, supervision of works, financial controls, project management and reporting.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

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.

Implementing Agency - Kosovo Energy Efficiency Fund (KEEF):

Email: info@fkee-rks.net
Phone: +383(0)38 223777
Address: Former Ljubljana Bank building, 7th floor 10000, Pristina, Kosovo

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