Green Finance Facility - Komercijalna Banka Skopje

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a senior unsecured loan of up to €4 million (the "Loan") to be provided in one tranche under the Green Finance Facility in North Macedonia ("GFF", the "Programme").

Project ID 55943

Status Signed

Location

North Macedonia

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Goran Ivanovski
Goran.Ivanovski@kb.mk
+389 2 316 8558
www.kb.com.mk
ul. Vasil Iljoski br. 3, 1000 Skopje, Republic of North Macedonia

Project ID 55943

Status Signed

Location

North Macedonia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

19 Nov 2024

Disclosure date

27 Nov 2024

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Green Finance Facility - Komercijalna Banka Skopje (Macedonian) (PDF, 0.09MB)

Project description

Provision of a senior unsecured loan of up to €4 million (the "Loan") to be provided in one tranche under the Green Finance Facility in North Macedonia ("GFF", the "Programme").

Project objectives

The loan is intended to provide sub-loans to SMEs in North Macedonia to support investments in eligible RE and/or EE projects. 100% of the use of proceeds will be related to Green Economy Transition ("GET") investments.

Transition impact

ETI Score:65

project will contribute to the overall Facility objectives and support the Green and Competitive TI qualities. The proposed project will contribute to the Green TI quality as primary quality by helping address the high energy and carbon intensity of the private sector in North Macedonia by allocating 100% of the Bank's investment to the Green Economy Transition of the country. Furthermore, with its secondary Competitive TI quality, the project will build towards a more competitive financial sector by building the capacity of KB for financing green investments, while also increasing the competitiveness of SMEs in North Macedonia by shifting towards RE and EE technologies in their operations.

Client information

KOMERCIJALNA BANKA AD SKOPJE

Komercijalna Banka AD Skopje ("KB") is the largest commercial bank in North Macedonia, holding market share of 21.9% in terms of total assets as of YE 2023. The bank offers a whole range of commercial banking services for individuals and companies across the entire territory of North Macedonia through the largest network in the country of 11 regional branches and 47 city-branches.

EBRD Finance Summary

EUR 4,000,000.00

Total project cost

EUR 4,000,000.00

Additionality

Additionality is achieved by combining the necessary long-term financing with technical support and targeted investment incentives into a package that promotes green investments that will improve the competitiveness of SMEs.

Environmental & Social Summary

Categorised FI (ESP 2019). KB is an existing client of the Bank, and its environmental and social (E&S) performance to date under existing exposures has been satisfactory. KB should maintain its environmental and social management system to assess, manage and monitor E&S risks and impacts associated with the sub-projects it finances. KB is required to continue to comply with the EBRD's performance requirements (PRs) 2, 4 and 9, including the exclusion and referral lists introduced with the E&S Policy (ESP) 2019, continue to follow the applicable EBRD E&S risk management guidance and submit annual E&S reports to the Bank. Sub-borrowers financed through KB must comply with national environmental, health, safety, and labour requirements.

If the EBRD's funding may be used to finance solar PV technologies, these will be managed in accordance with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach.

Technical Cooperation and Grant Financing

The project will be supported by a comprehensive technical assistance to KB and sub-borrowers to facilitate the project preparation and successful implementation of the GFF Facility. The source for TC funds is the Joint SDG Fund via the United Nations Development Programme ("UNDP"). The package also includes a grant component in the form of investment incentives funded by the Joint SDG Fund and the Government of North Macedonia (both via UNDP).

Company Contact Information

Goran Ivanovski
Goran.Ivanovski@kb.mk
+389 2 316 8558
www.kb.com.mk
ul. Vasil Iljoski br. 3, 1000 Skopje, Republic of North Macedonia

PSD last updated

27 Nov 2024

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Green Finance Facility - Komercijalna Banka Skopje

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)