DFF Balfin Retail Facility (EBRD-56768)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Albania
  • Bosnia and Herzegovina
  • Kosovo
  • Moldova
  • Montenegro
  • North Macedonia
  • Serbia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Western Balkans and Moldova
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Aug 4, 2026
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
BALFIN SHPK
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
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)
$ 28.83 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 25
Converted using 2026-08-04 exchange rate.
Project Cost (USD)
$ 28.83 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 25
Converted using 2026-08-04 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 5, 2026

Disclosed by Bank Aug 5, 2026

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’s website, the project consists of a senior unsecured loan of up to EUR 25 million provided to the Balfin Group.

The proceeds of the loan will finance (i) the expansion of Balfin's retail operations across the Western Balkans and Moldova, including new store openings, refurbishments, market entry, and (ii) working capital needs including the purchase of energy-efficient household appliances.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised B (ESP 2024). Environmental and Social (E&S) risks associated with the Project are site-specific and can be readily addressed through appropriate mitigation measures. E&S Due Diligence (ESDD) has been undertaken internally consisting of a review of a questionnaire and Group documentation.

The Company is an existing Client and has an established Environmental and Social Management System (ESMS) overseen by the Balfin Group's E&S committee. The Company has capacity to implement the Project in line with the Environmental and Social Requirements (ESRs). A limited Environmental and Social Action Plan (ESAP) is to be agreed with the Company. The Company operates in line with EBRD ESR2 and its Human Resources policies will apply to the retail segments. A Supplier Code of Conduct has recently been developed, and specific supplier due diligence is undertaken by Balfin for contractual manufacturers under the Fuego brand. A Gender-Based Violence and Harassment (GBVH) policy has also been recently developed and the ESAP requires training on the policy and awareness raising among workers of the grievance mechanism.

Store locations will predominantly be leased or acquired on a willing buyer / willing seller basis. Capex investments do not involve challenging or high-risk activities nevertheless; contractors will adopt E&S management plans proportionate to risk. These will cover site-specific mitigation measures, responsibilities and topic-specific measures such as those for waste management, health and safety and emergency preparedness. Operational management plans will align with Balfin's ESMS and Good International Practice and E&S management measures will be in place for buildings emissions, pollution prevention, life and fire safety, ventilation and traffic management.

The Company will apply its stakeholder engagement policy in line with ESR10 and a community grievance mechanism. The ESAP ensures application of Balfin policies to the Project and further measures include training for recent policy updates, a review of corporate social performance indicators and contractor management measures.

The Bank will monitor the Project through annual E&S reports and site visits, if necessary.

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

EBRD FINANCE SUMMARY: EUR 25,000,000.00
TOTAL PROJECT COST: EUR 25,000,000.00

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.

Balfin Group is an Albanian-based diversified and privately owned conglomerate active across retail, real estate, banking and asset management. Its retail segment is one of the Group's core businesses and comprises retail stores and operations in consumer electronics, white goods, toys and household goods across the Western Balkans.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Balfin Group Client -

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.

Leons Tuda
l.tuda@balfin.al
+355 69 601 8970
www.balfin.al
1010

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