📋 Tender Overview
Location: Serbia
Project number: 55263
Business sector: Municipal and environmental infrastructure
Notice type: State
Environmental category: B
EBRD Finance Summary: EUR 50,000,000.00
Total Project Cost: EUR 50,000,000.00
Project Description
Provision of a sovereign loan of up to €50 million to the Republic of Serbia ("RoS"), represented by the Ministry of Finance ("MoF"). The Project will be implemented by the Ministry of Environmental Protection of Serbia ("MEP") and the beneficiaries will be various public entities located across Serbia.
The financing will be used for the decommissioning of environmentally harmful boiler houses in up to 10 local self governments ("LSGs") in Serbia as well as investments into sustainable heat sources (including heat pumps, solar thermal, biomass and photovoltaics ('PV') panels) (hereinafter the "Project").
The EBRD loan will also facilitate connection to district heating network where possible, energy rehabilitation of the building envelope and installation of thermostatic valves in order to decrease the demand for energy, and preparation of the project documentation for subsequent phases of the Project.
Project Objectives
Significant reduction of CO2 emissions across Serbia (Climate Change Mitigation);
Reduction of the share of imported energy sources (Security of Supply);
Reduction of the total energy costs for public users (Affordability);
Decarbonisation of the buildings sector in Serbia and improvement of the sustainability and overall comfort level of public buildings across the country.
Transition Impact
ETI score: 60
The transition impact of the Project is expected to be derived from the following transition qualities:
1. Green
The Project is expected to significantly reduce CO2 emissions across Serbia, reduce the share of imported energy sources and reduce total energy costs for public users. Furthermore, the Project is expected to result in significant enhancement of air quality and the transition to low-carbon methods of delivering thermal energy, which is a key step towards decarbonization of the heating and cooling sector. In addition, the Project is expected to have a broader impact on the environment and economic development, both through direct and indirect benefits.
2. Resilient
During the due diligence process, the Project will also explore the Resilient transition quality to strengthen the transition impact of the Project.
