The general aim of adopting Environmental Procedures is to focus upon Environmental issues associated with lending and investments and thus increases the opportunities for environmentally acceptable or sustainable economic development and minimizes exposure to environmental/financial risk.
The specific objectives for environmental procedures are as follows:
- To identify and assess the environmental impacts and issues (such as environmental liability and risk) associated with loans and investments
- To identify and evaluate the financial implications related to environmental issues
- To maximize opportunities for environmental benefits to arise and minimize the potential for adverse environmental impacts (such as pollution) to occur
- To require borrowers to comply, at a minimum, with applicable local/national environmental, health, and safety regulation and standards, permitting procedures and public consultations requirements, including, where appropriate, EU environmental standards or World Bank environmental guidelines
Environmental Policies
- BKT shall finance environmentally sound projects that contribute to the economic development of Republic of Kosova
- BKT shall ensure that the identification, credit analysis and supervision of loans are carried out with due consideration to ecological and environmental factors, in accordance with the EBRD’ s environmental procedures for local banks and that activities included in the IFC’ s and EBRD’ s Exclusion Lists shall not be financed by BKT
- BKT shall require that borrowers and industrial companies comply with the Environment, Health and Safety Laws and Regulations of Republic of Kosova
