North Loop Efficiency Project (EBRD-50505)

Countries
  • Lebanon
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 27, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Republic of Lebanon
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Technical Cooperation
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 80.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 87.30 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 3, 2019

Disclosed by Bank Sep 23, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the investment involves provision of a sovereign loan to the Republic of Lebanon to assist the Ministry of Energy and Water ("MoEW") and the state-owned utility Electricite du Liban ("EdL") in reinforcing and upgrading Lebanon's electricity transmission network.

The proceeds of the Bank's loan will be used to finance capital expenditures to upgrade and reinforce electricity grid in the north of Beirut including new substations and underground cables. The Project will contribute to the reinforcement of the electricity grid in anticipation of the additional electricity generation capacity to be added in the next few years and therefore improve the electricity sector's sustainability.

Technical assistance will be provided for the purposes of:

1) Environmental and Social Due Diligence - an Environmental and Social Assessment of the Project was carried out by an external consultant to provide recommendations for environmental, health and safety, and social management of EdL and agreeing on an ESAP.

2) Advance Procurement Support - the assistance aims at supporting the preparation of tender documents based on EBRD's templates for the contracts under the Project, preparation of the tender evaluation reports, and preparation of draft Contract Agreements by using EBRD's standard templates in accordance with the requirements of the Bank's Procurement Polices and Rules (PP&R) for public sector operation.

3) Financial Reporting - the assistance targets improvements in EdL's financial transparency by supporting the company in adopting International Financial Reporting Standards.

4) Corporate Governance and Compliance - the assistance aims to support the implementation of anti-corruption measures to enhance EdL's corporate governance functions.

5) Project Implementation Unit - the assistance aims at establishing a consultancy support to assist MoEW and EDL in the implementation of the Project and ESAP monitoring.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Zakaria Rammal
zarammal@gmail.com
+961 3 732 968

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.

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