ESIF: Vratsa Water Subproject (EBRD-50955)

Countries
  • Bulgaria
Where the impacts of the investment may be experienced.
Specific Location
Vratsa
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Oct 22, 2019
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
WATER SUPPLY AND SEWAGE COMPANY OF THE CITY OF VRATSA
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 1.67 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 1.5
Converted using 2019-08-15 exchange rate.
Project Cost (USD)
$ 26.59 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 23.93
Converted using 2019-08-15 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 16, 2019

Disclosed by Bank Aug 15, 2019


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Project Description

According to the Bank's website, this project provides financing to Vratsa Water Supply and Sanitation Company which will be used for investments targeting rehabilitation of over 54km of water distirbution pipes and 26km of sewarage network, acquisition of new equipment for a sewage pumping station and construction of 15 new water metering shafts, 5 pressure-reducing valves chambers and two storage sites for slude etc.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
  • Water Supply and Sewage Company of the City of Vratsa -- Implementing Company

Vratsa WSSC is providing centralised WSS services to 10 municipalities, comprising 8 towns and 115 villages, on the basis of a 15-year Public Service Contract ("PSC") with the Regional Water Supply and Sanitation Association. The PSC gives the Company the right to operate the publicly-owned infrastructure, provide WSS services and collect revenues. In return, the Company has committed to invest a total of EUR 3.8 million in the WSS network over a course of 15 years. The total population serviced by the Company is c. 172,000 people.

Contact Information

Angel Prestoyski, General Manager

upravitel@vik-vratsa.com

0035992661223

www.vik-vratsa.eu

2 Al. Stambolilyski str., 3000 Vratsa, 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.