According to bank documents, the project involves a senior corporate loan of up to USD 20 million to BUTEC Utility Services, a private electricity distribution services company incorporated in Lebanon. The EBRD loan will be used to finance part of the 2018-2021 capital investment programme to be undertaken by the company as per its contract with Electricite du Liban (EdL), the Lebanese state-owned utility company.
Furthermore, the Bank's proceeds will partly finance the Company's investments towards
The Project will improve the Resilience of the Lebanese electricity sector through improving the reliability and efficiency of the distribution grid. The network upgrades and roll-out of smart meters are expected to reduce non-technical losses, improve load shedding management, and increase collection rates. In addition, the Project will improve the economic Inclusion of women in the Lebanese energy sector and close gender gaps in this traditionally very male dominated sector by strengthening Equal Opportunities in the Company's HR policies.
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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 email@example.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.