NEPCO: Liquidity facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a sovereign guaranteed loan to the National Electric Power Company (NEPCO) to assist NEPCO in preserving the stability of the electrical system and manage its liquidity constraints resulting from the ongoing COVID-19 crisis.

Project ID 52010

Status Repaying

Location

Jordan

Business Sector

Energy

Notice Type

State

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Maysoon Rawabdeh
mrawabdeh@nepco.com.jo
+96265858615
www.nepco.com.jo
National Electric Power Company 275 Zahran Street P. O. Box 2310 Amman 11181 # Jordan

Project ID 52010

Status Repaying

Location

Jordan

Business Sector

Energy

Notice Type

State

Environmental Category

Approval Date

21 Oct 2020

Disclosure date

30 Apr 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project description

Project objectives

The proceeds of the Bank's loan will be used to provide urgent liquidity support to NEPCO to meet its short-term payment obligations. The project is developed under the Vital Infrastructure Support Programme (VISP) which is part of the EBRD COVID-19 Solidarity Package.

Transition impact

ETI Score:65

loan will contribute to the Resilient quality by providing liquidity support to NEPCO to help the company go through the COVID-19 crisis. The loan will also contribute to the Inclusive quality, as it will be accompanied with a support targeting NEPCO's human resources to ensure that NEPCO can offer its staff adequate tools and the right skills to navigate through a crisis and is well equipped to respond to shocks.

Client information

NATIONAL ELECTRIC POWER COMPANY

JORDAN SOVEREIGN i National Electric Power Company (NEPCO) guaranteed by the Hashemite Kingdom of Jordan.

NEPCO is a 100% state-owned central entity in the Jordanian electricity system acting as single buyer of fuel for the purposes of electricity generation, single buyer of electricity, and transmission system operator.

EBRD Finance Summary

USD 100,000,000.00

Up to USD 100 million sovereign guaranteed loan to NEPCO.

Total project cost

USD 100,000,000.00

USD 100 million.

Up to USD 100 million of the proceeds will be applied to NEPCO's short-term needs.

Additionality

EBRD financing will contribute to bridging a financing gap created by the current adverse market conditions (Crisis response). While EBRD investment is needed to close the funding gap, it will not crowd out other sources, such as from IFIs, government, commercial banks, and instead will complement them.

Environmental & Social Summary

Categorised B (ESP 2019). E&S impacts/risks associated with the provision of liquidity are low since the project does not include a CAPEX component. NEPCO is an existing client of the Bank, and was subject to a thorough Environmental and Social Due Diligence in 2018. Environmental and Social (E&S) due diligence will be undertaken in-house and will include a review of the implementation progress of the agreed ESAP by the Client, as well as an update regarding their labour provisions and COVID-19 response plan.

Technical Cooperation and Grant Financing

Technical assistance will be provided to the company for the purposes of:

1) Internal Audit Function: improve NEPCO's internal audit function, including risk mapping, risk assessment, annual audit programmes, as well as co-sourcing and capacity building.

2) Human resources: ensure that NEPCO is equipped to deal with shocks such as the one currently experienced, while providing its staff adequate tools, training and protection.

Company Contact Information

Maysoon Rawabdeh
mrawabdeh@nepco.com.jo
+96265858615
www.nepco.com.jo
National Electric Power Company 275 Zahran Street P. O. Box 2310 Amman 11181 # Jordan

PSD last updated

30 Apr 2020

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

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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NEPCO: Liquidity facility

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)