- Support for the commercialisation of the Company and for institutional improvements: Technical co-operation mobilised by the Bank will promote the commercialisation of the Company and improve its financial and operational performance. Milestones and targets agreed with the Company will be included as covenants in the Loan Agreement. Additional technical cooperation is planned to establish and support a Project Implementation Unit.
- Development of Regulatory Framework and Institutional improvements through implementation of the Government Strategy for the Water Sector Development; passage of new Law establishing a Water Regulator and amendment of the Water Act; and establishment of effective and independent water regulator.
- Demonstration effect: The Operation would be the first transaction in Bulgaria where the Bank would lend directly to a state owned regional water company without a sovereign or municipal guarantee
- Improved financial planning and management for the City of Burgas. In order to help the City to improve its creditworthiness a Creditworthiness Enhancement Programme is planned to assist the City in defining and managing its budget, including its capital investment plans.
- Loan to the Company: €11.0 million
- Co-finance: €20.3 ISPA Grant
- Other sources; €0.9
- Financial and Operational Improvement Plan (FOPIP) section 5.2) €300,000, donor to be identified
- Establishment of Project Implementation Unit (PIU) and assistance with tendering and project procurement: €400,000, donor funds from CIDA
- Financial planning and budgeting training and assistance for the respective City €200,000, donor to be identified
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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
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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.