Extending the current senior loan to Sofiyska Voda AD (the Project).
The Project is to refinance subordinated loan provided by Veolia Voda (Sofia) BV to the Company.
Transition Impact comes from supporting a private concession in water sector in Sofia and in assisting the development of regulatory authority. To date the expected TI deriving from the original project is met.
Sofiyska Voda AD, a joint stock company organised in Bulgaria, and responsible as concessionaire (the Company). The Company is owned by Veolia Voda (Sofia) BV (77.1 per cent) and ViK (22.9 per cent) which is a municipal company owned by the City of Sofia (the City). Veolia Voda (Sofia) BV is 100 per cent owned by Veolia Voda, a subsidiary of Veolia Environment group.
The operation entails up to EUR 36.2 million extension of the Bank’s existing A/B loan to the Company.
Total project cost
The total project cost is EUR 36.2 million.
Environmental and social categorisation, impact, and mitigation
The original project was screened B under 2008 Environmental and Social Policy. This transaction involves no new CAPEX investments and will not have adverse future E&S impacts. The Company has been reporting its E&S management in accordance with Environmental and Social Action Plan (ESAP) appropriately. ESAP might be updated to meet the Bank’s 2014 PRs as required.
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