Early Warning System

Regions

Europe and Central Asia

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

Countries

Croatia

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

Jun 17, 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

KONCAR Inc.

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Infrastructure
Transport

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)

$ 138.08 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 120
Converted using 2026-06-17 exchange rate.

Loan Amount (USD)

$ 138.08 million

Project Cost (USD)

$ 425.75 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 1, 2026

Disclosed by Bank Aug 24, 2026

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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.

As stated by the EBRD, the project consists of a loan of up to EUR120m to KONCAR Inc., a joint-stock company established in Croatia and listed on Zagreb Stock Exchange, a leading South East European industrial and engineering group, specialising in grid infrastructure equipment and integrated solutions for large-scale electricity and transport projects.

The loan proceeds will be used to finance the company's large-scale green capex programme to expand production capacity for critical grid equipment, improve energy efficiency, and foster innovation through increased digitalisation and the establishment of a new Research and Development (R&D) centre.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

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 Devex, the main business areas of the KONCAR Group is the production of equipment and plants for the generation, transmission and distribution of electrical energy, as well as equipment for use in the field of transport and industry.

KONCAR Group today is made of KONCAR – Electrical Industry (parent company) and 15 subsidiaries and one associated company.

Annual sales are about 400 million euros, half of which is exported. Over the years KONCAR products are exported in more than 100 countries on all continents.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Koncar Group Inc.	Client	Industry and Trade

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 - KONCAR Inc.:

Stjepan Maric
Email: stjepan.maric@koncar.hr
Kristina Mumic
Email: kristina.mumic@koncar.hr
Website: www.koncar.hr
Address: Fallerovo setaliste 22, 10000 Zagreb, Croatia

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