InvestEU Green Capped Portfolio Guarantee Framework (EBRD-54981)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Bulgaria
  • Croatia
  • Czech Republic
  • Estonia
  • Greece
  • Hungary
  • Latvia
  • Lithuania
  • Poland
  • Romania
  • Slovakia
  • Slovenia
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
FI
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
Dec 14, 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
Financial institutions, including commercial banks and leasing companies.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 161.97 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 EUR 151.79
Converted using 2023-10-23 exchange rate.
Project Cost (USD)
$ 161.97 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 EUR 151.79
Converted using 2023-10-23 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 25, 2023

Disclosed by Bank Oct 23, 2023

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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.

According to the EBRD, the project consists of a framework of capped unfunded portfolio guarantees of up to EUR 151.8 million to be provided by the EBRD, as an implementing partner under the European Union's InvestEU programme, to eligible partner financial intermediaries (PFIs) in the 12 EU countries of operations (EU12 CoOs) to cover newly-generated portfolios of loans financing eligible green projects across industry sectors, benefitting private enterprises - SMEs, mid- and large-cap companies - and publicly-owned companies. The Bank's guarantees will be partially covered by first loss risk cover provided by the European Commission (EC) under InvestEU.

The overall objective of the Framework is to contribute towards improved sustainability and minimised climate and environmental footprint of the EU economies where EBRD operates, address the vital issue of carbon intensity of the economies of the EU12 CoOs, the energy crisis triggered by the Russian war in Ukraine and the heightened economic uncertainty related to the ongoing military escalation in the Middle East. Using portfolio guarantee instruments by eligible credit enhancement providers allows banks to reduce the risk weights of their loan portfolios, thus optimising the use of capital and strengthening their capital resilience, while scaling up financing activities for sustainable investments.

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

Eligible partner financial intermediaries.
Not identified at the time of disclosure.


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.

No contacts provided at the time of disclosure.

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