Lietuvos Energija Green Bond (EBRD-49433)

Countries
  • Lithuania
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
Jul 5, 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
LIETUVOS ENERGIJA UAB
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)
$ 34.04 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 30 million
Converted using 2017-07-05 exchange rate.
Loan Amount (USD)
$ 34.04 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 30 million
Converted using 2017-07-05 exchange rate.
Project Cost (USD)
$ 340.40 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 300 million
Converted using 2017-07-05 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 19, 2018

Disclosed by Bank Jul 13, 2017


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Project Description

According to EBRD website, the project is an investment in EUR-denominated green bond issue in an amount of EUR 30 million as part of a total aggregate issuance of EUR 300 million by Lietuvos Energija UAB ("LE UAB"), the Lithuanian's national energy company and one of the largest state-owned energy groups in the Baltics.

It aims to help LE UAB to upgrade its distribution network and expand its renewable energy capacity in order to strengthen the sustainability and security of Lithuania's energy supply and reduce its reliance on imported energy.

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

Contact Person: Jonas Rimavicius, Lietuvos Energija UAB
Email Address: jonas.rimavicius@le.lt

Contact: EBRD Procurement
Tel: +44 20 7338 6794
Email: procurement@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.