FIF - Go Digital in WB - Sparkasse Bank AD Skopje (EBRD-55993)

Countries
  • North Macedonia
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
U
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
Feb 11, 2025
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
Sparkasse Bank AD Skopje
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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)
$ 4.15 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 4
Converted using 2025-02-11 exchange rate.
Project Cost (USD)
$ 4.15 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 4
Converted using 2025-02-11 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 6, 2025

Disclosed by Bank Feb 25, 2025

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’s website, the project consists of a senior unsecured loan of up to EUR4 million to be provided in one single tranche under the FIF - Go Digital in the Western Balkans Programme.

The transaction will support the aim of the Programme to: (i) advance innovation and competitiveness of the private sector via targeted investments and increased awareness-raising among SMEs for a higher utilisation of digitalisation and automation technologies; (ii) support transition to green economy ("GET technologies"); (iii) increase the capacity and trade potential of SMEs via increased access to finance to allow them to invest additional resources to introduce EU standards; and (iv) promote more equitable access to finance for automation and digitalisation investments for women-led SMEs, and improve the competitiveness and sustainability of end-benecifiaries' business operations.

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 (ESP 2019). Sparkasse Bank AD Skopje (SBS) is an existing client of the Bank, and its environmental and social (E&S) performance under existing exposures has been satisfactory to date. Sub-borrowers financed through SBS's loan must comply with national environmental, health, safety, and labour requirements. If the EBRD's funding is used to finance solar sub-projects, which may be associated with higher forced labour supply chain risks, these sub-projects must be managed according to the FIF Go Digital in WB Policy Statement. This includes implementing appropriate risk-mitigating measures for both smaller and larger sub-projects, such as only investing in solar photovoltaic technologies listed on the EBRD Green Technology Selector. For larger sub-projects, a referral to the EBRD for further review against EBRD E&S eligibility criteria for solar, prior to approval for inclusion under EBRD proceeds.

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

A senior unsecured loan of up to €4 million to be provided in one single tranche under the FIF - Go Digital in the Western Balkans Programme.

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.
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.

Sparkasse Bank AD Skopje ("SBS")is a universal commercial bank and the 5th largest bank in North Macedonia, with 12.7% market share by total assets as at end Q3 2024. 


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

Milka Ratajkoska - Joleska
milka.rataikoskajoleska@sparkasse.mk
+389 2 3167714
www.sparkasse.mk
Vasil Iljoski 14, 1000 Skopje, Republic of North Macedonia

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