GEFF III REPower - NLB Banka Sarajevo (EBRD-55953)

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
U
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
Oct 21, 2025
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
NLB Banka d.d. Sarajevo
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 29, 2025

Disclosed by Bank Oct 22, 2025

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.

As stated by the EBRD, the project consists of the provision of a senior unsecured loan of up to EUR2 million to NLBSA for on-lending to the residential sector in Bosnia and Herzegovina ("BiH"). The loan is envisaged under the Western Balkans Green Economy Financing Facility III - REpower ("WB GEFF III"). This will enable the bank to promote green economy investments in the country.

The proceeds of the loan will be used to provide financing to NLBSA for gender-responsive on-lending to eligible sub-borrowers in the residential sector for investments supporting Green Economy Transition ("GET") - eligible residential renewable energies and energy efficient technologies.

 

 

ADDITIONALITY

Additionality is achieved by combining the necessary medium-term financing with TC, targeted investment incentives and policy dialogue into a package that promotes residential green economy investments in Bosnia and Herzegovia.

ENVIRONMENTAL AND SOCIAL SUMMARY

Categorised FI (ESP 2024). NLBSA is a new client of the EBRD. However, the bank's parent company, NLB Group has received financing from the EBRD. Eligible subprojects will support Energy Efficiency and Renewable Energy related technologies. The subprojects are expected to carry low environmental and social (E&S) risk. The main E&S risks relate to the client's capacity to implement its Environmental and Social Management System ("ESMS"), potential impacts arising from the financed subloans, and related supply chain risks, and labour and occupational health and safety issues. E&S due diligence has been undertaken through a review of the client's completed E&S questionnaire, publicly available information and supporting documentation. NLBSA has an ESMS, which is considered commensurate with the risk profile of the eligible subprojects, with a cap on the maximum sub-loan size and the GEFF consultant's support providing an additional risk mitigant.

The project is determined aligned with the Paris Agreement based on the application of the EBRD's Paris alignment approach for indirectly financed investments. The alignment determination is based on the application of pillar 1 (counterparty commitment to the Paris Agreement) and pillar 2 (sub-transactions filter). 100% of the EBRD financing is classified as green finance, as it supports activities to achieve climate mitigation objectives.

TECHNICAL COOPERATION AND GRANT FINANCING

The project will be supported by a comprehensive technical assistance package to NLBSA and sub-borrowers to facilitate the project preparation and successful implementation of the WB GEFF III programme. The source for TC is funded by Japan-EBRD Cooperation Fund and the EU via Western Balkans Investment Framework ("WBIF") through European Western Balkans Joint Fund ("EWBJF"). The source for non-TC funding is provided by the EU via WBIF through EWBJF.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
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, NLB Banka d.d. Sarajevo ("NLBSA") is a universal commerical bank operating in the Federation of BiH entity and Brcko District through its network of 34 business units. The bank is ranked eighth in terms of total assets (4.6% market share), loan portfolio (4.9% market share) and deposits (4.7% market share) at YE 2024.


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.

Financial Intermediary - NLB Banka d.d. Sarajevo:

Alisa Buzimkic Becic
Email: Alisa.BuzimkicBecic@nlb.ba 
Phone: +387 35 259 464
Website: http://www.nlb.ba 
Address: NLB Banka d.d. Sarajevo Kosevo 3 71000 Sarajevo, BiH

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