SWIFT Constanta water project (EBRD-49600)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Romania
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
Proposed
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
Jun 20, 2018
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
SC Raja SA
The holder of the loan, grant, or other investment.
Sectors
  • Technical Cooperation
  • 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, etc.
Investment Amount (USD)
$ 30.93 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 25
Converted using 2018-04-17 exchange rate.
Project Cost (USD)
$ 340.25 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 275
Converted using 2018-04-17 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 3, 2018

Disclosed by Bank Apr 17, 2018


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Project Description

The proceeds of the loan will be used to: i) co-finance alongside EU Cohesion Funds an extension and modernisation of the company's water and wastewater infrastructure and services and ii) finance a loss reduction programme with private sector participation.

The project aims at:

  1. Enable RAJA and the County of Constanta to bring their water and wastewater services in line with EU environmental standards by cofinancing the extension and rehabilitation of the company's water and wastewater network alongside the EU, and
  2. Assist RAJA in reducing its non-revenue water by involving the private sector under a performance-based contract.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

RAJA is the largest regional operating company in Romania. It provides water and wastewater services in the counties of Constanta, Ialomita, Calarasi, Dambovita and Brasov.

Contact Information

Stelian Budes
Bstellis@gmail.com
+40 754 073 217
www.rajac.ro

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.