VISP: OSHEE COVID-19 Response (EBRD-52360)

Countries
  • Albania
Where the impacts of the investment may be experienced.
Specific Location
Tirana
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
Approved
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
Jul 21, 2021
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
Operatori i Shperndarjes se Energjise Elektrike (OSHEE)
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Energy
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)
$ 82.55 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 70
Converted using 2021-07-21 exchange rate.
Loan Amount (USD)
$ 82.55 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)
$ 82.55 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 5, 2021

Disclosed by Bank Jan 18, 2021


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Project Description

According to EBRD website, the project is part of the Bank's response to the challenges caused by Covid-19 and, in addition, will support the construction of an underground distribution substation in central Tirana. 

The project will provide up to EUR 70 million to be provided to Operatori i Shperndarjes se Energjise Elektrike (OSHEE), the Albanian state-owned holding company of the distribution network entity and retail supplier, to alleviate liquidity constrains of OSHEE caused by the continuing Covid-19 crisis and to support the construction of a 110/20 KV distribution substation in central Tirana. 

Investment Description

Contact Information

Ceno Klosi; Ilda Malile; Petraq Lika
ceno.klosi@oshee.al ; ilda.malile@oshee.al ; petraq.lika@oshee.al 
00355682093692
www.oshee.al
Bulevardi Gjergj Fishta, Nr. 88, H. 1 1023, Tirana, Albania

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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