ESIF: Smolyan Water Subproject (EBRD-50819)

Countries
  • Bulgaria
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.
Borrower
Smolyan Water Supply and Sanitation Company
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)
$ 1.71 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 1.5
Converted using 2019-03-21 exchange rate.
Loan Amount (USD)
$ 1.71 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 44.36 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 39
Converted using 2019-03-21 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 18, 2019

Disclosed by Bank Mar 21, 2019


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Project Description

According to EBRD website, the project aims to construct new and the rehabilite the existing water and wastewater infrastructure, jointly with investment grants from the EU Operational Programme Environment 2014-2020. The main objectives of the Project are: (a) to help the Company achieve full compliance with the EU Urban Waste Water Treatment Directive in all agglomerations of more than 10,000 people serviced by the Company and (b) improve the efficiency of water supply services, reduce the share of nonrevenue water and fulfil the requirements of the EU Drinking Water Directive. 

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

The loan will amount to up to EUR 4.1 million, of which EUR 1.5 million will be funded with EBRD's ordinary capital resources (the "EBRD Tranche") and EUR 2.6 million in ESIF contributions from the EBRD-EU Special Fund (the "ESIF Tranche").

Contact Information

Mariyan Nikolov
Email Address: vik_sm@abv.bg 
+359 301 625 98
+359 301 626 29
https://www.vik-smolyan.com/
2 P.R. Slaveykov Street 4700 Smolyan, Bulgaria

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.