RIGA WATER AND SANITATION II (EIB-20240385)

Countries
  • Latvia
Geographic location 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 7, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
RIGAS UDENS SIA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Water and Sanitation
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 76.41 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 70
Converted using 2025-04-07 exchange rate.
Project Cost (USD)
$ 185.58 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 170
Converted using 2025-04-07 exchange rate.
Bank Documents
Media Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Apr 19, 2025

Disclosed by Bank Oct 18, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the operation will co-finance part of the 2025-2028 investment programme of Rigas Udens, the water company for Riga and surrounding communities in Latvia. The related investments mainly include the extension and rehabilitation of water supply and wastewater collection and treatment infrastructure.

The Project cost comprises the extension and rehabilitation of water supply and wastewater collection and treatment infrastructure. Investments in water supply will reduce the non-revenue water (i.e., water that is produced but not billed due to losses and inefficiencies), while investments in wastewater collection will reduce groundwater pollution. All investments support the water utility to increase its energy and water efficiency. 

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The project will contribute to ensure compliance with key EU directives in the water sector, notably the Drinking Water Directive (2020/2184/EU), the Urban Waste Water Treatment Directive (91/271/EEC), and the Water Framework Directive (2000/60/EC). Where applicable, the requirements of the Environmental Impact Assessment (EIA) Directive 2014/52/EU, which amends the EIA Directive (2011/92/EU), and SEA Directive (2001/42/EC) will be adhered to. In such cases, before utilising any EIB funds, the Promoter shall submit the EIA to EIB for publication on EIB's website.
For any part of the project that may impact a nature conservation site, the Promoter shall provide EIB with information on the mitigating measures necessary to comply with the Habitats Directive (92/43/EEC) and the Birds Directive (2009/147/EC).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Rigas Udens is the water company for Riga and surrounding communities in Latvia.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Rigas Udens Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact: Kristiina Randmaa
Email: k.randmaa@ext.eib.org
Phone: +352 4379 - 72894

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

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

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How it works