Early Warning System

Countries

Greece

Geographic location where the impacts of the investment may be experienced.

Specific Location

North Aegean Region

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

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

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."

Borrower

Government of Greece - Ministry of Environment & Energy

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Law and Government
Technical Cooperation
Water and Sanitation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Grant

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

Not Disclosed

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.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 7, 2025

Disclosed by Bank Jun 13, 2025

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

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.

Currently, there are significant challenges in waste management infrastructure in the North Aegean Region of Greece ("the Region"). There is a considerable lag in the establishment of basic waste management infrastructure, as defined in the National Waste Management Plan (NWMP) and the previous Regional Waste Management Plan (RWMP) for North Aegean. As a result, the waste management system in the Region remains underdeveloped resulting in undeniable environmental effects, as well as impacts on society, economy, and the overall development of the area.Due to the delay in establishing basic waste management facilities specified in the previous RWMP, the Region continues to rely heavily on landfilling. The informal waste sector and illegal dumping are also still present. The revision of the RWMP appears to be a step in the right direction, aligning with both Greek and EU regulations and offering a framework for more efficient and effective waste management practices.

According to the Bank’s website, the Government of Greece (GoG) and the Ministry of Environment & Energy have decided to develop the Project through PPP. The Project's implementation as a PPP is expected to contribute to the development of an integrated waste management system, which will operate on the basis of measurable performance indicators, to meet the targets set by the legislation regarding the reduction of the amount of the biodegradable fraction diverted to burial, the recycling and recovery of materials and energy, as well as any special requirements of the Contracting Authority. Implementing properly organised waste treatment facilities will not only help meet the objectives of environmental legislation, but also contribute to the overall well-being and sustainability of the Region. It is important for stakeholders at various levels, including government authorities, local communities, and waste management entities, to work together to ensure the successful implementation of these plans. This collaboration will be essential in addressing the complex challenges associated with waste management and achieving positive outcomes for both the environment and society.

The proposed waste management setup includes the following facilities: Lesvos; Samos; Ikaria and; Fournoi.

Note: *Construction of facility not included in PPP perimeter. OPEX only.

The PPP will cover 27 years, of which 2 years for the construction phase and 25 years for the operational phase.

The overall objective of the project preparation assignment will focus on the following:
* Feasibility studies including technical studies, legal due diligence, environmental and social studies, and financial assessments including fiscal analysis, cost/benefit and value-for-money analysis.
* Preparation of procurement documents including the RFQ, RFP (including Phase B.I - Competitive Dialogue, Phase B.II - Invitation to submit Binding Offers), PPP Agreements and any other agreement relevant to a Project.
* Assistance in obtaining all necessary administrative approvals.
* Preliminary assessment of potential E&S impacts.
* Support in conducting an internationally competitive PPP procurement process. Such procurements shall meet both the local legislation and the EBRD Procurement Policy .
* Active participation in structuring of the PPP for well-balanced risk allocation and bankability.
* Commercial close entailing signing of Project agreements.
* Achievement of financial close entailing signing of the financing agreements.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Investment amount not available at the time of disclosure.

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.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html