Translated version of this PSD: Croatian
The Bank is considering providing a loan to CroControl Ltd. to finance urgent technological update of its equipment and technology to comply with the standards of service as required by the European industry regulators.
The transition impact of this transaction derives from its in-built support for improvements to the functioning of regulatory entities and practices. SES II framework promotes establishment of a strong ANS regulatory presence in each country in order to achieve a unified European level of efficiency in ANS services provision and its safety level. The proposed Project would support the institutional strengthening in Croatia of both the ANS provider and ANS regulator, with the bigger emphasis on the latter, in terms of the introduction of necessary policies and work practices in line with SES II requirements. These can be briefly summarised as setting up specific, measurable operational targets for the ANS provider, together with specific procedures for recording performance and subsequent supervisory review.
Croatia Control Limited – the air navigation services provider of Croatia.
Up to €47 million loan under a sovereign guarantee.
Up to € 70.0 million.
Categorised B. The environmental and social due diligence (ESDD) for the project, which comprises of assessment the potential environmental and social issues associated with the project and the client's ability to manage relevant E&S risks as well as comply with PRs is ongoing.
The initial results of the due diligence indicate that the potential E&S impacts of the project will be limited and can be addressed through mitigation measures.
The Company’s operations are generally in compliance with the relevant national and EU environment, health and safety standards. The Company has the procedures and work instructions in place to manage EHS issues. Preparatory works for the initiation of certification procedure and application of OHSAS 18001 and ISO 19011 are currently underway.
An Environmental and Social Action Plan (ESAP) will be prepared to address mitigation measures and corrective actions identified during the ESDD.
This PSD will be revised to reflect all outcomes of the ESDD and the requirements of the ESAP once the ESDD is completed.
Envisaged technical cooperation to be sought includes assistance to both air navigation provider and air navigation regulator in complying with the SES II requirements.
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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