GGU - Aqualia Green Bond Project (ADB-58189-001)

Countries
  • Georgia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Tbilisi
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
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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
Jul 15, 2024
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
Georgia Global Utilities JSC (GGU)
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 Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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)
$ 300.00 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.
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 15, 2024

Disclosed by Bank Jul 29, 2024

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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 the news released in the Bank’s website, the project aims to enhance the water system in Tbilisi and neighboring municipalities, building resilience against climate change on surface and groundwater resources.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environment: B
Involuntary Resettlement: C
Indigenous Peoples: C

The rehabilitation, maintenance and repair of the entity's existing water and sanitation supply network will entail trenching of sections of the existing network, mostly along roads in urban municipality and in the surrounding municipalities. 

No physical or economic displacement is expected as proceeds will be used only for rehabilitation of existing water supply and sanitation system. The company and the entity have land acquisition and compensation policy. Activities categorized as A or B for IR will be excluded.

No Indigenous Peoples are reported in Tbilisi and adjacent municipalities. No impact is expected among distinct and vulnerable Indigenous Peoples.

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

Loan (Leading Asia's Private Sector Infrastructure Fund 2): USD 30.00 million

According to the news released in the Bank’s website, the investment forms a part of a $300 million, 5-year issuance by GGU. 

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.

Georgia Global Utilities JSC is owned by Aqualia Georgia LLC and Georgia Capital JSC (GCAP), one of Georgia’s largest and most diversified investment companies. Aqualia Georgia LLC is a subsidiary of a leading Spanish water company, FCC Aqualia S.A., which operates in 18 countries.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Georgia Global Utilities JSC Client -

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.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works