UNDP Expression of interest - EOI FOR THE Scaling up of the green investments by commercial banks and leasing companies in Serbia

With financial support from the European Union and Switzerland, as part of the project EU for the Green Agenda in Serbia, the United Nations Development Programme (UNDP) is calling on interested commercial banks and leasing companies to apply for participation in the financing of green investments.

The call is addressed to legal entities (commercial banks and leasing companies) which would participate in financing green projects of companies (both public and private) in cooperation with the UNDP through loans for the following:

1.* Innovative bankable projects1 that contribute to the achievement of the goals of the project EU for the Green Agenda in Serbia - technically mature green investments and projects including those that represent replication and scaling of pilot investments which UNDP has successfully tested within the project EU for the Green Agenda in Serbia.

These projects will be financed from combined sources:

• Company’s own funds - 15% of project value,
• Grant from the project EU for the Green Agenda in Serbia - 10% of the total project value (in exceptional cases of projects with a significant positive impact - maximum of up to 20%), which may be considered as part of the applicant’s own co-financing, i.e. its own funds,
• Loan from a bank or leasing company in the amount that the company lacks to reach the full amount required to finance the green project.

2. Bankable green projects that are not innovative but fit the predictable revenue streams of banks, such as projects related to the production or installation of solar panels, renewable energy facilities, or industrial plants with efficient resource utilisation.

3. Energy efficiency projects resulting from the free energy audits conducted as part of the project, with the aim of implementing energy efficiency measures that lead to a reduction in greenhouse gas emissions and pollutant emissions into the environment (water, air, soil), etc.

These energy audits will cover all aspects of production, equipment operation and maintenance characteristics, the condition of all systems that consume energy and water, energy management, energy efficiency improvement measures already implemented and their impact, as well as plans for reconstruction, improvements, expansions or changes to the production programme and the impact of these changes on energy efficiency. Such projects can be financed through bank loans for energy efficiency, and they may also be eligible for co-financing under the project EU for the Green Agenda in Serbia through grants.

For more information, please see the document UNDP Expression of interest - EOI

All legal entities that have expressed their interest in this call and have sufficient qualifications and relevant experience will be offered to consider technically mature, bankable green projects that require combined financing though equity and loans - by combining co-financing through a grant under the project EU for the Green Agenda in Serbia, including the companies' own funds, and commercial borrowings for possible financing through a loan/lease agreement.

You can apply by sending an e-mail to zelena.agenda.rs@undp.org by 6 June 2025 at 3 PM at the latest and enclosing the following documents:

• Proof of registration by the competent authority of the Republic of Serbia;
• Description of the approach and methodology to engage within the program and naming of your preferred option (Annex 1).
• Existing programs/products for green investments, including those provided in cooperation with international financing institutions (IFIs) (Annex 2).
• Expression of interest on paper with the bidder's letterhead
• Name of the contact person designated by the legal entity to liaise with the project team and perform the tasks listed above (Annex 2)

The subject of the e-mail should be: Expression of interest (EOI) for the scaling up of the green investments by commercial banks and leasing companies in Serbia.

For any further questions you can use the following e-mail address: zelena.agenda.rs@undp.org.

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

*This category refers to the projects applying: innovative “green” technologies or those presenting a new application of an existing technological solutions; innovative/improved business models for green products/services or organization/production processes that contribute to the green transition; design solutions that contribute to the green transformation of economy and society; those that have tangible positive multiple impacts in terms of environment and climate (e.g. reducing emissions into soil, air and waters, preserving/improving natural capital etc.), employment (e.g. green jobs creation), sustainable economic growth, women empowerment in just green transition, etc.