Serbia Air Quality Improvement Project (EBRD-55263)

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
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
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 Serbia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • 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)
$ 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
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.
Project Cost (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.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 6, 2025

Disclosed by Bank Oct 8, 2024

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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 EBRD, the project consists of the provision of a sovereign loan of up to EUR50 million to the Republic of Serbia, represented by the Ministry of Finance. The Project will be implemented by the Ministry of Environmental Protection of Serbia and the beneficiaries will be various public entities located across Serbia.

The financing will be used for the decommissioning of environmentally harmful boiler houses in up to 10 local self governments in Serbia as well as investments into sustainable heat sources (including heat pumps, solar thermal, biomass and photovoltaics panels).

The EBRD loan will also facilitate connection to district heating network where possible, energy rehabilitation of the building envelope and installation of thermostatic valves in order to decrease the demand for energy, and preparation of the project documentation for subsequent phases of the Project.

The project objectives are:

  • Significant reduction of CO2 emissions across Serbia (Climate Change Mitigation);
  • Reduction of the share of imported energy sources (Security of Supply);
  • Reduction of the total energy costs for public users (Affordability);
  • Decarbonisation of the buildings sector in Serbia and improvement of the sustainability and overall comfort level of public buildings across the country.

The project will additionally benefit from the following technical cooperation schemes:

  • TC 1. Decommissioning of environmentally harmful boiler rooms in Serbian cities - Scoping study. Funded by the Renewable District Energy in the Western Balkans Programme ("ReDEWeB") in the amount of EUR 75,000.
  • TC 2. Comprehensive feasibility study, conceptual designs, and environmental and social impact assessments (FS). The assignment will be funded by an international donor or the EBRD's Shareholder Special Fund. Estimated budget is up to EUR 300,000.
  • TC 3. Project Preparation Support. The assignment will be funded by an international donor or the EBRD's Shareholder Special Fund. Estimated budget is up to EUR 75,000.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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 - Government of Serbia:

Sara Pavkov
Email: sara.pavkov@eko.gov.rs
Website: https://www.ekologija.gov.rs/
Address: Omladinskih brigada 1, Belgrade, Serbia

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

How it works

How it works