SARAJEVO (Bosnia and Herzegovina), October 7 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) has announced that it is considering granting a senior unsecured loan of up to € 2 million ($ 2.3 million) to the Bosnian unit of Italian banking group Intesa Sanpaolo for residential green investments.
The loan, which is pending final review, would be extended in two equal installments under the Western Balkans Green Economy Finance Facility (GEFF) II, the EBRD said in a brief description of the project on Wednesday. .
The second tranche would be non-binding and its commitment would be at the sole discretion of the EBRD. The loan would be fully guaranteed by the owner of the bank, Intesa Sanpaolo.
Sarajevo-based Intesa Sanpaolo BiH is the third largest lender in Bosnia, with assets totaling 1.19 billion euros and a 9.6% market share by total assets at the end of 2020, noted the BERD.
GEFF is a € 135 million program co-funded by the EU, the Austrian Federal Ministry of Finance and bilateral donors of the Western Balkans Investment Framework (WBIF). It is implemented in partnership with the Secretariat of the Energy Community under the Regional Energy Efficiency Program for the Western Balkans (REEP Plus).
($ = 0.8645 euro)