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

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

May 7, 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

Intesa Sanpaolo Banka d.d. Bosnia and Herzegovina

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

Sectors

Agriculture and Forestry
Finance
Industry and Trade

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)

$ 7.52 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 2024-05-07 exchange rate.

Loan Amount (USD)

$ 7.52 million

Project Cost (USD)

$ 7.52 million

Bank Documents

Translation: FIF - SME Go Green - Intesa BiH Location: Bosnia and Herzegovina (Bosnian)

Primary Source

Original disclosure @ EBRD website

Updated in EWS May 13, 2024

Disclosed by Bank May 8, 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.

As stated by the EBRD, the project consists of the provision of a senior unsecured loan of up to EUR 7 million to be provided under the FIF SME Go Green Programme, with up to 5 years maturity, including 2 years of grace period. The loan will consist of two equal tranches; the second tranche will be uncommitted and its commitment will be in the EBRD's sole discretion. The facility will be fully guaranteed by the client's ultimate shareholder, Intesa Sanpaolo S.p.A.

Proceeds of the Loan will be used for providing sub-loans to eligible SMEs in Bosnia and Herzegovina for improving their competitiveness and trade potential via targeted investments in sustainability practices and the adoption of internationally recognised quality standards, scaling up green economy investments and in particular, greening of agribusiness supply chains and promoting more equitable access to climate and other finance to women-led SMEs. The bank will aim to deliver at least 70% of the proceeds to Green Economy Transition (GET) eligible projects.

The Project contributes to the overall objectives of the SME Go Green Programme, supporting the Competitive and Green TI qualities. FIF SME Go Green seeks to (i) support SMEs in accessing finance towards EU and international standards investments and assist them to access advice and know-how for introducing and implementing such standards and becoming competitive, and (ii) scale up investments into GET-eligible technologies by SMEs and thereby contribute to building a green, low-carbon economy in the Western Balkans.

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.

The EBRD categorized the project risk as 'FI'.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

Financial Intermediary

A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

INTESA SANPAOLO BANKA DD BOSNIA AND HERZEGOVINA (Financial Intermediary) is owned by Intesa Sanpaolo S.p.A. (Parent Company)

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, Intesa Sanpaolo Banka d.d. Bosnia and Herzegovina is the 6th largest bank in the country with assets of EUR 1.3bn and a market share of 6.8% by total assets as of YE 2023. The company is headquartered in Sarajevo and services the entire territory of BiH through electronic channels and a network of 45 branches. At YE 2023 the bank had 560 employees.

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.

Financial Intermediary -

Damir Filipovic
Email: damir.filipovic@intesasanpaolobanka.ba
Phone: +387 33 49 77 17 / +387 33 49 78 17
Website: www.intesasanpaolobanka.ba
Address: Obala Kulina bana 9a, 71000 Sarajevo

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