Early Warning System

Countries

Bulgaria

Geographic location where the impacts of the investment may be experienced.

Specific Location

Sliven, Nova Zagora

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

Canceled

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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

Apr 25, 2023

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

Sliven Water Supply and Sanitation Company

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Water and Sanitation

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 12.57 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.
Currency conversion note:
Bank reported 12.6
Converted using 2022-09-13 exchange rate.

Project Cost (USD)

$ 61.27 million

Bank Documents

Translation: ESIF: Sliven Water Project (Bulgarian)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 21, 2023

Disclosed by Bank Sep 13, 2022

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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.

Provision of a loan of up to EUR 12.6 million to Sliven Water Supply and Sanitation Company, a water utility serving Sliven Region. The loan proceeds will be used to co-finance, alongside investment grants from the EU "Operational Programme Environment" 2014-2020, the rehabilitation and upgrade of water and wastewater infrastructure in two agglomerations of above 10,000 population equivalent in the region, i.e. Sliven and Nova Zagora.

The project's main objectives are: (i) to help the Company increase compliance with EU directives on potable water and wastewater treatment in large agglomerations and (ii) to improve Sliven WSSC's operational efficiency.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

From the EBRD's website:

Sliven Water Supply and Sanitation Company, a 91 per cent state owned through the Bulgarian Water Holding, 6 per cent owned by Sliven municipality and the rest 3 per cent owned from the other municipalities in Sliven region utility company, is the sole provider of water supply and sanitation services to roughly 183,000 inhabitants in Sliven Region. The Company has signed a 15-year Public Service Contract with the Regional Water Supply and Sanitation Association, which gives it the exclusive right to provide services in the region and collect revenues from end consumers.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Bulgarian Water Holding	Investor	Water and Sanitation
-	-	-	-	Sliven Water Supply and Sanitation Company	Client	Water and Sanitation

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.

Client - Sliven Water Supply and Sanitation Company:

Eng. Sevdalin Rashev - General Manager
Email: viksliven@viksliven.com
Phone: 00359 886 46 40 88 / 00359 044 623 413
Website: www.vik.sliven.net
Address: 27 "6-ti September" Str., 8800 Sliven, Bulgaria

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