CEZ Distribution Bulgaria (EBRD-47632)

Countries
  • Bulgaria
Where the impacts of the investment may be experienced.
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
Bank Risk Rating
B
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.
Voting Date
Oct 19, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
CEZ Razpredelenie Bulgaria AD
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Infrastructure
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)
$ 127.14 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 116,000,000.00
Converted using 2016-10-19 exchange rate.
Project Cost (USD)
$ 127.04 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 116,000,000.00
Converted using 2016-10-19 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Jun 17, 2016


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

Project Description
This project funds CEZ Razpredelenie Bulgaria AD, an electricity distribution company incorporated in Bulgaria and operating in the western region of Bulgaria. This project will finance the company's capital investment programme in the distribution network for the period 2016-2017 including the acquisition of energy infrastructure, equipment and reconstruction and building of new infrastructure. The investment is expected to reduce the company's grid losses and improve the quality of distribution services.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
CEZ Razpredelenie AD is a joint stock company incorporated in Bulgaria and responsible for the distribution of electricity in the country's western region. CEZ Razpredelenie is 67 per cent owned by CEZ Group and 33 per cent by other minority shareholders- legal entities and individuals. CEZ Group is an integrated electricity utility headquartered in Czech Republic and operating in central, south-eastern Europe and Turkey.
Contact Information
*No contacts available* 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, 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.