DIF - Javna Razsvetljava Street Lighting (EBRD-48275)

Countries
  • Slovenia
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
Mar 22, 2017
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
JAVNA RAZSVETLJAVA D.D.
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 5.93 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 5.5 million
Converted using 2017-03-22 exchange rate.
Loan Amount (USD)
$ 5.93 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 5.5 million
Converted using 2017-03-22 exchange rate.
Project Cost (USD)
$ 5.93 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 5.5 million
Converted using 2017-03-22 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2018

Disclosed by Bank Nov 23, 2016


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Project Description

According to EBRD website, the project is the provision of a senior loan to Javna Razsvetljava d.d. (the Company or Javna), a street lighting and energy services company (ESCO) engaged in the design, financing, installation, operation and maintenance of street, traffic, architectural, stadium, and tunnel lighting systems for Slovenian and Croatian municipalities. The Company is wholly owned by Enlux d.d., a Slovenian limited liability company.

It will be used to refinance short-term loans incurred in order to finance street lighting Energy Performance Contracts (EnPCs) with nine municipalities in Slovenia, as well as to finance new contracts the Company may enter into. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Stanko Furlan
Telephone No.: +386 1 58 63 639, +386 1 54 29 400
Website: www.jrl.si
Office Address: Litijska cesta 263 1261 Ljuljana-Dobrunje Slovenia

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

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.