INFRASTRUCTURE CO-FINANCING LOAN HEDGING FACILITY

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 2115

Status Cancelled

Location

Lithuania

Business Sector

Financial Institutions

Notice Type

Public

Project ID 2115

Status Cancelled

Location

Lithuania

Business Sector

Financial Institutions

Notice Type

Public

Environmental Category

Approval Date

16 Dec 1997

Disclosure date

28 Jan 1997

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

A US$ 6.3 million cross-currency options and swaps line with a tenor of up to fifteen years to the Republic of Lithuania to hedge Yen/US$ exchange risk arising from co-financing by the Export-Import Bank of Japan (JEXIM) of three infrastructure projects funded by the EBRD: Via Baltica and Lithuania Road Project, the Lithuanian Transport Project and the Lithuanian Telecom Development Project.

Project objectives: The facility will allow the Republic of Lithuania to hedge short-term and long-term exposure to Yen/US$ rate fluctuations that may lead to a funding shortfall or increased funding cost in US$ terms for the client via one or a series of cross-currency options and swaps.

Transition Impact

The facility will encourage better assets/liabilities management on the part of the client and will contribute towards a successful implementation of the infrastructure projects financed by the EBRD.

The Client

Republic of Lithuania.

EBRD Finance

A hedging line to convert client's Yen exposure into a US$ exposure via one or a series of cross-currency options and swaps.

Project Cost

Total EBRD exposure will not exceed US$ 6.3 million (ECU 5.7 million equivalent).

Environmental Impact

C/0: The project does not require an environmental analysis or an environmental audit. Environmental issues associated with the three infrastructure projects in question have already been addressed through the EBRD's direct involvement in these projects as a lender.

Technical Cooperation

None

PSD last updated

21 Jan 2019

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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