UNDP Call for Expressions of Interest from commercial banks and leasing companies for cooperation within the public calls for financing green investments

The United Nations Development Programme (UNDP) in Serbia, in partnership with the Ministry of Environmental Protection, invites commercial banks and leasing companies registered in the Republic of Serbia to express their interest in cooperation within the public calls for financing green investments, implemented through the "EU for Green Agenda in Serbia" project. 

The call is intended for financial institutions that are interested in supporting the implementation of technically prepared and financially sustainable green investment projects, contributing to strengthening cooperation between the economy and the financial sector, improving access to commercial financing, and mobilizing additional private investments for Serbia's green transition.

Within the "EU for Green Agenda in Serbia" project, UNDP, in cooperation with the Ministry of Environmental Protection and the European Investment Bank, has developed a blended green financing model that combines grant support, companies' own funds, and commercial financing. This approach helps reduce investment risks and facilitates the implementation of complex green projects, especially in the areas of decarbonization of the economy, energy and resource efficiency, wastewater treatment, application of cleaner technologies, and other investments that contribute to meeting European Union standards. This model has proven particularly successful in supporting businesses and industrial plants covered by the Law on Climate Change (ETS plants), the European Union's Carbon Border Adjustment Mechanism (CBAM), and the Law on Integrated Pollution Prevention and Control (IPPC plants), to accelerate their alignment with European Union standards, including the application of best available techniques.

Financial institutions that express their interest will be included in the database of financial partners of the EU for the Green Agenda in Serbia project and will have the opportunity to consider financing investment proposals developed through public calls for financing green investments. The projects will first undergo a process of technical support and development within the Green Accelerator, thereby increasing their technical and financial readiness to access commercial sources of financing.

Projects considered for support through the public calls for financing green investments must meet the following conditions:

• A clear environmental impact (reduction of GHG emissions, improvement of air, water, and soil quality, waste prevention, efficient use of resources).
• Compliance with current legislation and EU standards.
• Potential for replication, scaling, and long-term sustainability.
• Application of ESG principles and green taxonomy; incentive effect of co-financing (additionality); tangible benefits for the company and the community through green investments.

These projects are expected to be financed through a blended financing approach, combining:

• a loan from a bank/leasing company in the amount that the company needs to fully finance the green project.
• the company’s own financial contribution.
• grant funding provided through the EU for the Green Agenda in Serbia project.

The following categories of projects will be supported through the public calls for financing green investments:

1. Innovative pilot projects

• Minimum investment value: USD 100,000,
• Projects may include loan financing,
• Donor co-financing: up to 50% of the total investment value, with a maximum of USD 75,000 per project.

2. Scalable Projects

• Investment value: USD 250,000 to USD 800,000,
• Projects must include loan financing
• Donor co-financing: between 30% and 50% of the total investment value, with a maximum of USD 150,000 per project

3. Large-Scale Scalable Projects

• Investment value: above USD 800,000
• Projects must include loan financing
• Donor co-financing: up to 20% of the total investment value, with a maximum of USD 200,000 per project

Projects related to commercially available and market-ready green solutions, for which standard financial products from banks and leasing companies already exist (such as the purchase or installation of solar panels and similar investments with predictable revenue streams), can be financed through loans, leasing, or the beneficiary’s own funds, but will not be eligible for grant support under the EU for the Green Agenda in Serbia project.

This public call is published within the "EU for Green Agenda in Serbia" project, which, with the technical and financial support of the European Union and in partnership with the Ministry of Environmental Protection, is implemented by UNDP in cooperation with Sweden and the European Investment Bank (EIB), with additional financial resources provided by the governments of Sweden, Switzerland, and Serbia.

Deadline and Application Method

Applications are submitted by sending one (1) e-mail to zelena.agenda.rs@undp.org no later than September 30, 2026, with the following documentation:

• An Expression of Interest signed on the institution's letterhead, naming a contact person for cooperation with the project team (Annex 1).
• A review of existing programs and products for green investments, including those implemented in cooperation with international financial institutions (Annex 2).

Detailed guidelines for the submission of an Expression of Interest are available HERE.

For additional questions, you can contact us via e-mail at: zelena.agenda.rs@undp.org.