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.

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

Nov 15, 2023

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

State of Bosnia and Herzegovina

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

Sectors

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)

$ 7.47 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 7
Converted using 2023-09-15 exchange rate.

Project Cost (USD)

$ 10.67 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 19, 2023

Disclosed by Bank Sep 15, 2023

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 website, the project includes the provision of a sovereign loan of up to EUR 7 million to the State of Bosnia and Herzegovina, to be on-lent to the Municipality of Pale ("Municipality") through Republika Srpska ("RS") and to be implemented by the municipally-owned district heating company, Gradske Toplane Pale ("the Company"). EBRD's financing will be complemented by an investment grant in the amount of up to EUR 3 million from the Switzerland's State Secretariat for Economic Affairs ("SECO").

The proceeds of the loan will be used to finance part of the modernisation programme for the district heating ("DH") system of the Municipality of Pale (the "Project"). This will include: (i) the construction of a new boiler house with the acquisition of a 10MW biomass boiler, a 10MW back-up natural gas boiler and two 100 m3 heat accumulation tanks; (ii) the replacement of the existing pipeline network as well as the installation of a central seasonal storage and heat substations with monitoring and forecasting systems; and (iii) acquisition of relevant goods and equipment (chip shredder, tractor etc).

The Project aims at significantly improving the Municipality's DH system operational efficiency while reducing air pollution resulting from the activity. The Project will also contribute to improving the Company's corporate governance practices and the DH sector in the country.

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 Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
the State of Bosnia and Herzegovina.	Client	Law and Government	owns	Gradske Toplane Pale	Contractor	Infrastructure

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.

State-owned company contact:

Boris Gojkovic
direktor@toplanepale.com
+387 57 227 033
www.toplanepale.com
Sprskih ratnika 54, Pale 71240, 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