BEH IGB INTERCONNECTOR (EIB-20140376)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Bulgaria
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
ICGB AD
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 128.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 110 million
Converted using 2018-07-20 exchange rate.
Project Cost (USD)
$ 256.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 220 million
Converted using 2018-07-20 exchange rate.
Media Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Aug 3, 2018

Disclosed by Bank May 3, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

The project consists of the financing of the Greece-Bulgaria gas interconnector (IGB Interconnector) to provide another direct link between the national natural gas systems of Greece and Bulgaria.

The project will contribute to the enhancement of the security and the diversification of gas supplies for both Bulgaria and Greece and Southeastern Europe (SEE region) and represent a key part of the strategy for greater integration of gas markets within the European Union.

Investment Description
  • European Investment Bank (EIB)
Contact Information

*There is no further contact information available at this project stage*

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary-General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces