📋 Tender Overview
Location:
Kosovo
Project number:
55553
Business sector:
Financial institutions
Notice type:
Private
Environmental category:
FI
Approval date:
04 Mar 2025
Status:
Approved
English-language PSD published:
10 Mar 2025
Project Description
A senior unsecured loan of up to EUR 3.5 million under Western Balkans GEFF III to KRK for on-lending to the residential sector for green economy investments.
Project Objectives
The loan is intended for providing sub-loans to help finance investments in high-performance energy efficiency and renewable energy technologies, materials and solutions undertaken in or in relation to privately owned residential dwellings or buildings, construction of GET-eligible High-energy Performance Residential Buildings (HPRBs) and eligible energy efficiency and/or renewable energy projects in the public sector. 100% of the use of proceeds will be related to investments eligible under the EBRD's Green Economy Transition ("GET") approach.
Transition Impact
ETI score: 70
The project will contribute to the overall Framework objectives and support the Green TI quality with 100% of the use of proceeds allocated to GET activities.
Client Information
KREDITIMI RURAL I KOSOVES LLC
Kreditimi Rural i Kosoves, LLC ("KRK") is the third largest microfinance institution by gross loans in Kosovo, with the mission to provide access to financing to local MSMEs. At YE 2024, KRK services almost 26,000 clients across the entire territory of Kosovo through its network of 29 branches and 287 employees.
EBRD Finance Summary
EUR 3,500,000.00
Total Project Cost
EUR 3,500,000.00
Additionality
Additionality is achieved by combining the necessary medium-term financing with technical cooperation, targeted investment incentives and policy dialogue into a package that promotes residential green economy investments in Kosovo.
Environmental and Social Summary
Categorised FI (ESP 2024). Kreditimi Rural i Kosoves (KRK) is an existing client of the EBRD. Under existing exposures, its environmental and social (E&S) performance has complied with Performance Requirements 2, 4, and 9 of the 2019 Environmental and Social Policy (ESP). Under the 2024 ESP, KRK must comply with Environmental and Social Requirements 2, 4, and 9 and the EBRD E&S Exclusion List. The MFI will also need to submit annual E&S reports to EBRD. Sub-borrowers financed through KRK's loans must meet national environmental, health, safety, and labour regulations.
If the EBRD's funding is used for solar subprojects, where there may be higher risks of forced labour in the supply chain, these subprojects must be managed following the EBRD Policy Statement.
Technical Cooperation and Grant Financing
TC in the amount of up to EUR 4.5 million will be supported at the Facility level funded by the Japan-EBRD Cooperation Fund and the EU via the Western Balkans Investment Framework (WBIF) through the European Western Balkans Joint Fund (EWBJF). C
