Sofia Water System Concession Loan Extension

Location:

Bulgaria

Project number:

3550

Business sector:

Municipal and environmental infrastructure

Notice type:

Private

Environmental category:

B

Approval date:

18 Oct 2017

Status:

Cancelled

PSD disclosed:

04 Sep 2001

Project description

Extending the current senior loan to Sofiyska Voda AD (the Project).

Project objectives

The Project is to refinance subordinated loan provided by Veolia Voda (Sofia) BV to the Company.

Transition impact

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.

The client

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.

EBRD finance

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.

Technical cooperation

None

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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