This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
SEMED Private Renewable Energy Framework (EBRD-46907)

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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Oct 14, 2015
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.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Oct 17, 2014


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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.
PROJECT DESCRIPTION TRANSITION IMPACT The Project will assist the four countries of the SEMED (Morocco, Tunisia, Egypt & Jordan) in breaking down the hurdles hampering the development of a private renewable energy sector. THE CLIENT Sub-project clients are expected to include a wide range of international and local energy companies and other developers. EBRD FINANCE The EBRD will provide up to USD 250 million senior secured debt financing and could also consider equity and quasi-equity investments on a case-by-case basis. PROJECT COST Approximately USD 900 million. ENVIRONMENTAL IMPACT The Framework itself will not be subject to environmental and social categorisation and each sub-project, including potentially both Category A & B projects, will be reviewed individually and be subject to normal due diligence and disclosure requirements. TECHNICAL COOPERATION Technical cooperation (TC) funds will be sought for policy dialogue and project preparation. The policy dialogue work will commence with a gap analysis of the legal and regulatory frameworks in each country and the improvements needed for success of private sector renewable energy projects. The initial study will be followed by TCs targeted to the needs of each country. The project preparation TCs will finance the technical, environmental and legal due diligence for the preparation of the sub-projects.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
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.

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