Project Description
The Project will aim to address the urgent need of liquidity support to Georgian Air Navigation in the period of unprecedented economic impacts of COVID-19 crisis. The proposed transaction is in line with the Vital Infrastructure Support Programme (VISP) under the Bank's COVID-19 Solidarity Package.
Project Objectives
The goal of the Project is to support the Georgian Air Navigation (the "Company") to overcome a temporary shock and focus on its key functions.
Transition Impact
ETI score: 65
The Project will have the following Transition Impact:
Resilient- The Project entails addressing current liquidity shortages of the Company resulting from a sudden, significant change in economic activity due to a crisis event.
Inclusive - The Company adopts significant improvements in HR and other policies in line with the gender action plan.
Client Information
SAKAERONAVIGATSIA LTD
Georgian Air Navigation - Sakaeronavigatsia Ltd., is fully owned by the Government of Georgia and is the national provider of air traffic navigation and monitoring services in the country.
EBRD Finance Summary
EUR 10,000,000.00
A senior loan of EUR 10,000,000.
Total Project Cost
EUR 10,000,000.00
Total Project cost is EUR 10,000,000.
Additionality
COVID-19 crisis response: EBRD financing effectively bridges a liquidity gap due to adverse market conditions, e.g. the COVID-19 crisis.
Environmental and Social Summary
Categorised B (2019 ESP) and Low-Medium risk. Financing the liquidity needs under the VISP for an air traffic navigation and monitoring services provider is associated with site-specific Environmental and Social ("E&S") risks that can be readily assessed and mitigated via good management practices. Environmental and Social Due Diligence ("ESDD") will be undertaken in line with the Environmental and Social Department's ESDD response to COVID-19 and will be conducted in-house. It will comprise the review of a completed E&S questionnaire, available E&S documentation and follow up on line discussions with the Company. Key E&S risks and impacts to consider include occupational health and safety, supply chain and contractor management, ground fleet and traffic management. Specific attention will be paid COVID-related response plans including labour and the potential for retrenchment, worker and community health and safety issues and stakeholder engagement.
Technical Cooperation and Grant Financing
The following technical co-operation ("TC") assignments are envisaged as part of this Project:
- Capacity Assessment and Priority Investment Programme Identification Study.
- Equal Opportunities Programme.
Company Contact Information
Gocha Mezvrishvili
intrel@airnav.ge
(995 32) 274 42 12
(995 32) 274 42 27
www.airnav.ge
Tbilisi Airport, Tbilisi; 0158, Georgia
PSD last updated
18 May 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.
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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
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Tel: +44 20 7338 6794
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General enquiries
Specific enquiries can be made using the EBRD Enquiries form.
Environmental and Social Policy (ESP)
The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social 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 additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from 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 activities of the Bank 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 Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.
OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both 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. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. 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 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 following its entry into force on 1 January 2020. 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 (e.g. 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 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; how to submit a Request for review; or contact IPAM via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.
