PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

607133

Primary Business Area

Financial Institutions Group

Disclosure Date

Jun 10, 2024

Country

Eastern Europe Subregion

Region

Europe

IFC Approval Date

Aug 1, 2023

Status

Active

Estimated Total Budget

$3,919,524.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 18, 2024

Project Estimated Start Date

Jul 17, 2023

Project Estimated End Date

Jun 30, 2027

Client Legal Name

BANCA COMERCIALA ROMANA SA ,Banca Comerciala Moldova-Agroindbank SA ,NATIONAL SECURITIES AND STOCK MARKET COMMISSION ,UKRGASBANK JSB ,Norofert SA,Tirana Bank,KRK Kosovo,Intesa Albania,ASDE Ukraine,BANCA TRANSILVANIA SA,Turan Bank

Project Description

The project aims to increase the flow of climate finance towards climate change mitigation and adaptation private sector initiatives/projects in different sectors (agriculture, transport, construction, energy) and as a result to reduce the GHG emissions. To achieve this goal the project will: 1) create an enabling sustainable finance environment by working with national financial regulators/enablers to establish national legislative/regulatory frameworks; 2) develop the supply for green finance through advisory work with financial institutions to build capacity/undergo green transformation and leveraging green finance across banking and microfinancing organizations; and 3) enhance the regional sustainable finance knowledge through IFC’s Green Banking Academy (GBAC) events and services.

Development Results

E&S Risks / Impacts and Mitigation