Early Warning System

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.

Specific Location

Republika Srpska

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

Proposed

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

Government of Bosnia i Herzegovina; Elektrokrajina a.d. Banja Luka

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)

$ 44.12 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 38
Converted using 2026-03-03 exchange rate.

Loan Amount (USD)

$ 44.12 million

Project Cost (USD)

$ 50.14 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 30, 2026

Disclosed by Bank Mar 3, 2026

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Can you contribute information about this project?
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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 sovereign guaranteed loan of up to EUR38 million to Elektrokrajina a.d. Banja Luka, a state-owned distribution company in Republika Srpska, Bosnia and Herzegovina, as part of a EUR43.2 million investment programme. The Bank's loan will finance the reconstruction and upgrade of medium and low-voltage networks and substations, reducing distribution losses, improving supply quality, and enabling increased integration of distributed renewable energy.

Elektrokrajina is the distribution utility serving around 50 percent of consumers across 16 municipalities in Republika Srpska.

The distribution network of Republika Srpska has experienced persistent under-investment, resulting in ageing assets, elevated technical losses, and reduced reliability of electricity supply. The project will finance the reconstruction and modernisation of medium and low-voltage networks and substations, addressing critical bottlenecks in supply quality and operational performance. The proposed investments will: (1) reduce technical and commercial losses across the distribution system, (2) improve the reliability and quality of electricity supply for consumers, (3) enable greater integration of distributed renewable energy sources through strengthened and modernised infrastructure, and (4) support increased energy efficiency and preparation for further network automation and digitalisation, including through expanded deployment of smart metering.

The transition impact derives from the green transition quality, as the reconstruction and upgrade of grid networks and substations will reduce distribution losses, improve energy efficiency and enable greater integration of small scale renewable energy sources. The Resilience quality will be explored in due diligence on the back of losses reduction and network stability objectives.

The Bank will seek to mobilise non-reimbursable TC funds from the EBRD Shareholder Special Fund to support project preparation, including technical due diligence, preparation of procurement documentation, and other tasks required prior to implementation.

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 the EBRD, the borrower is Bosnia and Herzegovina. The loan will be cascaded down to the Client for project implementation.

Elektrokrajina a.d. Banja Luka is a state-owned electricity distribution company in Republika Srpska, Bosnia and Herzegovina. Elektrokrajina is majority-owned by Elektroprivreda Republike Srpske (65%), with the remaining shares held by various investment funds and minority shareholders. Elektrokrajina provides electricity distribution services to approximately 50% of consumers across 16 municipalities in Republika Srpska and operates under licences issued by the Regulatory Commission for Energy of Republika Srpska (REERS).

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Elektrokrajina a.d. Banja Luka	Contractor	Energy

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 - Elektrokrajina a.d. Banja Luka:

Sasa Popovic
Email: sasa.popovic@elektrokrajina.com
Phone: +387 51 246-302
Website: www.elektrokrajina.com
Address: Kralja Petra I Karadordevica 95 78000 Banja Luka Bosnia and Herzegovina

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