Early Warning System

Countries

Serbia

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 6, 2024

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

SERBIA AND MONTENEGRO AIR TRAFFIC SERVICES AGENCY LIMITED - SMATSA

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

Sectors

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)

$ 21.80 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 20
Converted using 2024-07-15 exchange rate.

Project Cost (USD)

$ 49.04 million

Bank Documents

Translation: SMATSA Top Sky Upgrade (Serbian)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 19, 2024

Disclosed by Bank Jul 15, 2024

Contribute Information
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 Bank’s website, the project consists of a senior loan of up to EUR20 million in favour of Serbia and Montenegro Air Traffic Services SMATSA Llc ("SMATSA") to finance the upgrade of the Company's current TopSky-ATC Air Traffic Management ("ATM") system to TopSky-ATC One. The Project will be co-financed up to EUR25 million loan by the European Investment Bank ("EIB").

Upgrade of SMATSA's TopSky-ATC ATM system to the latest version of the system ("TopSky-ATC One"), a robust and sophisticated solution that will enhance safety, boost efficiency, and ensure reliability while enabling SMATSA to meet regulatory requirements.

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 (2019 ESP). The project will not require any land acquisition, have no impacts on environmentally sensitive areas and will not require any resettlement.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

A senior loan of up to €20 million. The Project will be co-financed up to €25 million loan by the European Investment Bank ("EIB").

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.

SERBIA AND MONTENEGRO AIR TRAFFIC SERVICES AGENCY LIMITED - SMATSA, a limited liability company established in 2003 and owned at 92% by the Republic of Serbia ("RoS") and at 8% by Montenegro is the air navigation service provider for air traffic during all phases of operations (en-route, approach, aerodrome) in the airspace of Serbia, Montenegro, portion of the airspace over High seas of Southern Adriatic and at 8 airports. The airspace under SMATSA responsibility is part of cross-border operations linking the South East Common Sky Initiative Free Route Airspace ("SECSI FRA") area that comprises free route airspaces of Austria, Albania, BiH, Croatia, Montenegro, North Macedonia, RoS and Slovenia - and Free Route Airspace Italy ("FRAIT"). This cross-border operations free route airspace allows the airspace users flight planning options equal to full merge of the two FRA areas ("SECSI FRA" and "FRAIT"). SMATSA carries out additional services such as air traffic control officer training, flight inspection of ground-based radio navigation aids etc.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Serbia And Montenegro Air Traffic Services SMATSA LLC	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.

COMPANY CONTACT INFORMATION

Ivana Belanovic
ivana.belanovic@smatsa.rs
https://smatsa.rs

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