Early Warning System

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 DD BOSNIA AND HERZEGOVINA

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

Sectors

Finance

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)

$ 8.60 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 8
Converted using 2024-05-07 exchange rate.

Project Cost (USD)

$ 8.60 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 19, 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.

According to the Bank’s website, the project consists of the provision of a senior unsecured loan of up to EUR 8 milion to be provided under the Go Digital Pilot in BiH programme, with up to 5 years maturity, including 2 years of grace period; this will be ISP BiH's second loan under the programme, after the EUR 8 million signed in December 2022 which has been successfully utilized. The loan will be fully guaranteed by the client's ultimate shareholder, Intesa Sanpaolo S.p.A.

The Project supports the aim of the Programme to: (i) improve SMEs' access to finance in order to invest additional resources to introduce EU standards through the provision of financing and investment incentives; (ii) pilot an approach to supporting SMEs that invest in automation and digitalisation, (iii) support transition to a green economy ("GET technologies"), by targeting a GET-eligible share of at least 60%, and (iv) increase the awareness and knowledge of SMEs in BiH through the Advice for Small Business ("ASB") services with a focus on automation and digitalisation projects.

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 FI (2019 ESP).

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 unsecured loan of up to € 8 milion to be provided under the Go Digital Pilot in BiH programme, with up to 5 years maturity, including 2 years of grace period.

The entire Go Digital Pilot in BiH Programme is supported with grant funds from the European Union for financing of (i) Investment Incentive payments to sub-borrowers ("Non-TC") and (ii) Technical Cooperation.

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)

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.

Intesa Sanpaolo Banka d.d. Bosnia and Herzegovina ("ISP BiH") 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.

The loan will be fully guaranteed by the client's ultimate shareholder, Intesa Sanpaolo S.p.A.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Intesa Sanpaolo S.p.A.	Investor	-

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

Damir Filipovic
damir.filipovic@intesasanpaolobanka.ba
+387 33 49 77 17
+387 33 49 78 17
www.intesasanpaolobanka.ba
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