Project DescriptionProvision of a senior loan to Inecobank ("IB") of up to USD 7 million  under the SME Competitiveness and Inclusion Programme in Eastern Partnership ("EaP SMECI") established by the European Bank for Reconstruction and Development ("EBRD") in cooperation with the European Union ("EU") to be on-lent to eligible micro, small and medium sized enterprises ("MSMEs").Project ObjectivesThe project will enable IB to finance long-term investments of Armenian MSMEs in upgrading their production facilities and processes to achieve compliance with the EU standards, including investments in sustainable and green technologies, thus facilitating competitiveness of Armenian MSMEs in the European and domestic markets. In addition to long-term financing, eligible sub-borrowers will benefit from investment incentives upon successful completion of their investment projects. At least 70 per cent of all financed sub-loans are expected to be compliant with EBRD Green Economy Transition ("GET") approach. Transition ImpactETI score: 75Competitive: IB will expand its MSME loan portfolio with a specific focus on financing priority investments complying with EU directive(s), ultimately facilitating competitiveness of Armenian MSMEs.Resilient: IB is expected to maintain strong loan portfolio quality.Client InformationINECOBANK CJSCInecobank CJSC is a long standing EBRD partner bank. IB is the 5th largest bank in Armenia by total assets and loan portfolio with 6.4% and 6.6% respective market shares as of YE 2023.EBRD Finance Summary USD 7,000,000.00 Total Project Cost USD 7,000,000.00 AdditionalityFinancing structure: EBRD offers a tenor, which is above the market average and is necessary to structure the project.Innovative financing structures and/or instruments: EBRD offers an innovative green finance instrument that integrates aspects such as climate and environmental, social and governance ("ESG") standards and/or climate and ESG risk considerations into the financing structure. For instance, adjusting level of concessionality to reflect level of climate risk and/or positive climate benefits, such as greenhouse gas reductions and climate resilience benefits.Knowledge, innovation and capacity building: EBRD provides expertise, innovation, knowledge and/or capabilities that are material to the timely realisation of the project's objectives, including support to strengthen the capacity of the MSMEs.Environmental and Social SummaryCategorised FI (2019 ESP). IB is an existing client and performs in compliance with the environmental and social ("E&S") requirements under existing exposures. IB will need to continue to comply with PRs 2, 4 & 9, implement the EBRD's Environmental and Social Procedures for Corporate Loans, SME and Micro Loans, including adherence to the EBRD E&S Exclusion List and Referral List introduced with ESP 2019, and submit annual environmental and social reports to EBRD. Sub-borrowers financed through the loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.Technical Cooperation and Grant FinancingThe project includes a comprehensive technical cooperation programme funded by the EU. The objective of the technical cooperation is to assist financial intermediaries in Armenia, including IB, in successful implementation of the project, including marketing, pre and post finance assessment of sub-projects as well as general monitoring and reporting. Furthermore, the loan is complemented by EU funded grant of EUR 0.83m to be allocated to eligible sub-borrowers in form of investment incentives to stimulate investments in technologies meeting EU standards including investments in sustainable and green technologies.  Company Contact InformationHayk [email protected]://www.inecobank.amPSD last updated18 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55403"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a senior unsecured loan of up to €15 milion, under SME Go Green Programme, to Banca Intesa Belgrade ("BIB").Project ObjectivesProceeds of the Loan will be used for providing sub-loans to eligible SMEs in Serbia for improving their competitiveness and trade potential via targeted investments in sustainability practices and the adoption of internationally recognised quality standards, scaling up green economy investments and in particular, greening of agribusiness supply chains and promoting more equitable access to climate and other finance to women-led SMEs. BIB will aim to deliver 70 percent of the proceeds to Green Economy Transition (GET) eligible projects.Transition ImpactETI score: 65The Project contributes to the overall objectives of the SME Go Green Programme, supporting the Competitive and Green TI qualities. FIF SME Go Green seeks to (i) support SMEs in accessing finance towards EU and international standards investments and assist them to access advice and know-how for introducing and implementing such standards and becoming competitive, and (ii) scale up investments into GET-eligible technologies by SMEs and thereby contribute to building a green, low-carbon economy in the Western Balkans.Client InformationBANCA INTESA AD BEOGRADBIB is the largest bank in Serbia and is among the leading banks in both corporate and retail banking. As of 4Q23, BIB had a market share of 15.6 percent by total assets, 16.7 percent by net loans and 16.3 percent by deposits. It has approximately 3,000 employees and a branch network of 143 offices across Serbia. EBRD Finance Summary EUR 15,000,000.00 Total Project Cost EUR 15,000,000.00 AdditionalityThe EBRD offers long-term financing which is above the market average and provides expertise, innovation, knowledge and/or capabilities that are material to the timely realisation of the project's objectives.Environmental and Social SummaryCategorised FI (ESP 2019). BIB is an existing client and has provided satisfactory annual environmental and social reports to the Bank to date. BIB will be required to continue to comply with the EBRD's Performance Requirements (PR) 2, 4 and 9, to apply the EBRD's E&S Risk Management Procedures for Corporate, SME and Micro Loans including adherence to the EBRD E&S Exclusion List and Referral List ESP 2019 and submit annual E&S reporting to the Bank. Sub-borrowers financed through BIB's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.If the EBRD funding may be used for financing solar PV technologies, these will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach.Technical Cooperation and Grant FinancingTC includes support from Programme Consultants that will assist SMEs and PFIs with the implementation, marketing and monitoring of the Programme and a separate verification of the technical implementation of the investments by Sub-borrowers before the incentive payment is released. TC funds are provided by the EU.Company Contact InformationSnezana [email protected] 11 201 1400381 11 201 1400http://www.bancaintesa.rs/Milentija Popovica 7b11070 Novi BeogradPSD last updated18 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55275"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionProvision of a senior unsecured loan in the amount of up to €7 million in a single tranche to Banca Intesa Beograd ("BIB"), for on-lending to eligible women-led SMEs in line with the criteria under Western Balkans Women in Business Programme Phase II ("WB WiBP II").Project ObjectivesThe project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services. Transition ImpactETI score: 68The project contributes to the objectives of the WB WiBP II, supporting the Transition Impact qualities of Inclusive and Competitive:Inclusive: The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services, while demonstrating the business case for scaling-up lending to the women-led SME segment.Competitive: Transition impact is expected to derive from market expansion in line with the EBRD Financial Intermediaries Framework.Client InformationBANCA INTESA AD BEOGRADBIB is the largest bank in Serbia and is among the leading banks in both corporate and retail banking. As of 4Q23, BIB had a market share of 15.6 percent by total assets, 16.7 percent by net loans and 16.3 percent by deposits. It has approximately 3,000 employees and a branch network of 143 offices across Serbia. EBRD Finance Summary EUR 7,000,000.00 Total Project Cost EUR 7,000,000.00 AdditionalityThe project will support the market segment as a whole and enable the continuation of the successful implementation of the previous six WiB projects.Environmental and Social SummaryCategorised FI (ESP 2019). BIB is an existing client and has provided satisfactory annual environmental and social reports to the Bank to date. BIB will be required to continue to comply with EBRD's Performance Requirements (PR) 2, 4 and 9, to apply the EBRD's E&S Risk Management Procedures for Corporate, SME and Micro Loans including adherence to the EBRD E&S Exclusion List and Referral List ESP 2019 and submit annual E&S reporting to the Bank. Sub-borrowers financed through BIB's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.If EBRD funding may be used for financing solar PV technologies, these will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach.Technical Cooperation and Grant Financing€2 milion at the faclitly level, provided by the government of Sweden and SSF. As a repeating PFI, BIB will benefit from the support to achieve its gender mainstreaming initiatives only.Company Contact InformationSnezana [email protected] 11 201 1400381 11 201 1400http://www.bancaintesa.rs/Milentija Popovica 7b11070 Novi BeogradPSD last updated18 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55276"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionA senior loan of up to EUR 75 million to Draexlmaier Group, an international automotive supplier headquartered in Vilsbiburg, Germany.Project ObjectivesThe project will support the client's investments in e-mobility and general capital expenditure in Romania, North Macedonia and Moldova.Transition ImpactETI score: 63The expected transition impact of the project stems from the following qualities:Green: The project supports the expansion of production capacity in Romania for high-voltage harnesses and battery systems for electric vehicles.Inclusive: The client will broaden access to market relevant skills by introducing new training programmes on emerging technical skills and new apprenticeship programmes in collaboration with local universities.Client InformationFRITZ DRAXLMAIER GMBH AND CO KGDraexlmaier Group is an international automotive supplier with about 65 sites in over 20 countries and a strong footprint in the EBRD region. It supplies leading automobile manufacturers worldwide with complex wiring harness systems, central electrical and electronic components, interiors, and battery systems for electromobility. In 2023, the company generated sales of EUR 5.6 billion and employed about 75,000 employees throughout the world.EBRD Finance Summary EUR 75,000,000.00 AdditionalityFinancing structure: The tenor of EBRD's loan is longer than what is readily available in the market from commercial lenders.Risk mitigation: The long-term relationship with the Bank provides the client with comfort to grow its investments and take on more risk in countries like Moldova or North-Macedonia.Gender SMART: The client will launch an outreach campaign to attract and support female talents in STEM fields.Environmental and Social SummaryCategory B (2019 ESP). The client is well known to the Bank including through previous subscriptions to Schuldschein issuances, one of which an ESG related instrument. The client has published public Sustainability Reports for several years, providing clear information on policies, procedures and performance at the corporate level on EHSS issues. As this is a bi-lateral loan between the Bank and client, there was an opportunity to become involved in more detailed due diligence, including a series of discussions with client management on the practical implementation of corporate standards across the portfolio of operations; the flows of performance information within the corporate structure, and the assurance and corrective procedures within the corporate structure; and the reporting requirements required at the site and corporate levels in response to changing legislation.Due diligence confirmed that the client has an effective and sophisticated EHSS risk management system where performance is monitored at site, regional and corporate level and corrective actions, where required, are managed appropriately through to close. The client management systems and operations are in compliance with the Bank's Performance Requirements and no Environmental and Social Action Plan is required for this transaction. Due diligence also reviewed the client's supply chain risk management systems in light of recent German legislation in this regard. It was found that the client is in compliance with this regulation with assessment and reporting systems being in place throughout their countries of operation, and with independent review of suppliers risks and performance where appropriate.Technical Cooperation and Grant Financingn/aCompany Contact InformationChristian Anzinger, Group [email protected]+49 8741 47- 0https://www.draexlmaier.com/en/PSD last updated17 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "54653"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a senior loan of up to € 30 million to  Zeljezniiki Prevoz Crne Gore a.d. (ZPCG), the passenger train operator in Montenegro. The loan will be fully guaranteed by the State of Montenegro (the Guarantor) and used to finance the purchase 4-car Electro-motor unit (EMU) sets to be used for operations across the railway network of Montenegro. The new rolling stock will replace the old, energy inefficient loco-hauled train sets currently in operation. Project ObjectivesZPCG needs to acquire 4-car EMUs to improve the quality and regularity of services. The acquisition of new rolling stock has been identified by the Government of Montenegro as the key priority for the developement of the railway services in the country. The new rolling stock will replace the old, energy inefficient locomotive-hauled train sets currently in operation.Transition ImpactETI score: 66Well Governed (primary) through the Company's and the Guarantor's (where applicable) undertaking to: (i) implement a corporate governance action plan and (ii) sign a public service contract based on the international best market practices;Green (secondary) through the  renewal of the rolling stock fleet resulting in estimated average savings of 18,145 tonnes of CO2 over the evaluation period from 2026 to 2037, which represents emission savings at the level of 53 per cent. The Project will be 100 per cent GET eligible.Client InformationRAILWAYS PASSENGER COMPANY OF THE REPUBLIC OF MONTENEGROZeljezniiki Prevoz Crne Gore a.d. Podgorica, or Railways Passenger Company of Montenegro, is a majority state-owned company and is the sole passenger train operator in Montenegro. The state owns 90.79 per cent of the company shares, while the remainder is owned by individual investors (4.58 per cent), investment funds (4.55 per cent) and other (0.08 per cent). In 2022, the Company reported € 10.3 million of revenues and EBITDA of € 3.4 million.  EBRD Finance Summary EUR 30,000,000.00 A senior loan of up to € 30 million will finance the purchase of 4-car EMU sets to be used for operations throughout the whole railway network of Montenegro.Total Project Cost EUR 30,700,000.00 The loan will be accompanied by the technical assistance deployed for (i) project implementation support, (ii) revisions of the Public Service Contract and (iii) enhancement of the Company's corporate governance standards and practies. AdditionalityThe EBRD loan offers a tenor that is above the market average, ensures that the company complies with the Bank's environmental and social policies and Procurement Policies and Rules.  Environmental and Social SummaryCategorised B (ESP 2019). The Environmental and Social Due Diligence ("ESDD") for the Project has been undertaken internally and included an environmental and social ("E&S") assessment of the Project, review of the current operations, as well as the E&S management systems and the capacity of ZPCG as it relates to rail operations.ESDD was carried out by means of questionnaires and a review of previous annual E&S reports submitted to the Bank over the past several years. Other relevant documents were also reviewed including the ISO certifications, the recent annual report on railway transport safety and other labour related documentation. Due to the time that had elapsed since the initial ESDD, further information was requested to confirm any E&S related updates within ZPCG operations. It is estimated that the Project will generate average savings of 18,145 tonnes of CO2 over the evaluation period from 2026 to 2037.Previous annual E&S reporting by ZPCG has been satisfactory and ZPCG has well established Human Resources policies. A new collective agreement has been effective from August 2023 . ZPCG complies with national legislation related to labour and working conditions which are aligned with PR2. Some updates to existing labour arrangements are needed which includes the preparation of an updated retrenchment plan and further development of the worker grievance mechanism. The Bank will require both these documents to be submitted for review prior to any future retrenchment.ZPCG has a certified integrated management system (IMS) including ISO 14001 Environmental Management and ISO 45001 Occupational Health and Safety ("OHS") which has been certified since 2016. The last independent audit was carried out in 2020 and included the migration from the OHSAS 18001 to ISO 45001. Annual E&S reports confirmed regular inspections take place annually by the relevant labour and environmental authorities, with no significant issues raised. The existing policy document for the IMS is available on ZPCG website and starting from September 2021 includes also ISO 45001:2018. ZPCG evaluates contractors E&S arrangements prior to selection and appointment although further development on contractor monitoring is needed to confirm implementation. ZPCG has an employee OHS rulebook which is also made available on their website and for operational safety, an formal safety management system ("SMS") has been implemented and is audited annually.ZPCG has an existing Stakeholder Engagement Plan ("SEP") developed under the previous EBRD project and this requires a review and update to reflect changes since its original development. ZPCG will also develop arrangements on Energy Efficiency ("EE"), which include establishing an EE team, establish performance indicators and objectives and produce annual report on energy consumption.The above requirements have been included in the Environmental and Social Action Plan ("ESAP") which has been developed and has been agreed with the ZPCG. The Bank will continue to monitor ZPCG activities through annual E&S monitoring reports and site visits if necessary.Technical Cooperation and Grant FinancingPre-signing TC 1: Technical Due Diligence, with aprimary objective to establish the overall technical assessment of the project according to recognised international standards (note: this assignment also supported the Railways Maintenance Equipment Renewal Project (OPID 51806)). The cost of this assignment was EUR 55,000 and was supported by the SSF.TC 2: Economic Due Diligence, with aprimary objective to establish the overall economic assessment of the project according to recognised international standards (note: this assignment also supported the Railways Maintenance Equipment Renewal Project (OPID 51806)). The cost of this assignment was EUR 45,000 and was supported by the SSF. Post-signingTC 3: Project Implementation Support, in particular, project preparation, preparation of the tender documents (including technical specifications), contract administration, financial control, project management and reporting. The estimated cost of the assignment is EUR 300,000 and is expected to be funded by an international donor or the SSF. TC 4: Procurement Support, to assist the Client with the procurement of the PIU support consultant, on-the-job training for the preparation of the procurement documents, workshops on the Bank's PP&R and best procurement practices. The estimated cost of the assignment is EUR 25,000 and is expected to be funded by an international donor or the SSF.TC 5: Revisions of the Public Service Contract, to assist in amendment of the PSC aligning it with the EU regulations and best international practice while enabling the implementation of the new Law on Railway Transport that is to be adopted in 2024 in the field of public service obligation. The estimated cost of this assignment is up to EUR 90,000 to be funded by the EU IPA, under the EU reform Facility.TC 6: Enhancements of the Company's corporate governance standards and practices through the adoption of the corporate governance action plan ("CGAP"). The estimated cost of this assignment is up to EUR 150,000 to be funded by the EU IPA, under the EU reform Facility. Company Contact InformationDjordje [email protected]+382 63 228 089zpcg.meTrg Golootockih zrtava br.1381 000 Podgorica MontenegroPSD last updated17 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55258"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a three-year senior loan (YiB Loan I) of up to US$ 10 million in the local currency equivalent to Ipak Yuli Bank (IYB), a major private bank in Uzbekistan, under the Youth in Business Programme for Central Asia (CA YiB). The proceeds of the Bank's investment will be used for on-lending to eligible youth-led MSMEs in line with standard eligibility criteria.Project ObjectivesThe YiB Loan I will enable Ipak Yuli Bank to maintain further diversification of its funding base, and to finance youth-led businesses in Uzbekistan. Ipak Yuli Bank will benefit from a comprehensive technical assistance (TC) to develop the internal capacity for financing youth-led businesses and to contribute to the improvement in access to finance for youth entrepreneurs in Uzbekistan.Transition ImpactETI score: 71As part of the CA YiB, the YiB Loan I to Ipak Yuli Bank will support Inclusive (primary) and Competitive (secondary) transition qualities through promotion of youth entrepreneurship and, more broadly, youth's active participation in business activities. Taken together, these targets will contribute to improving access to finance for youth entrepreneurs in Uzbekistan which IYB may not have pursued otherwise.Client InformationIPAK YULI JOINT-STOCK INNOVATION COMMERCIAL BANKIpak Yuli Bank is a leading privately-owned bank in Uzbekistan with focus on SMEs. With a market share of close to 3 per cent, Ipak Yuli Bank is the fourth largest by assets private bank in Uzbekistan out of 25 private banks.  EBRD Finance Summary USD 10,000,000.00 A three-year senior unsecured loan of up to US$ 10 million under the Youth in Business Programme for Central Asia (CA YiB). The loan will be provided in two equal tranches of US$ 5 million and will be available in the synthetic local currency (Uzbekistan Sum).Total Project Cost USD 10,000,000.00 AdditionalityInnovative financing structures and/or instruments: The project will benefit from a First Loss Risk Cover and a Performance Based Compensation, a tailor-made and innovative instrument in the Central Asian market.Financing Structure: The EBRD loan will provide much-needed term financing which will help address issues of limited availability of medium- to long-term financing for Youth MSMEs. The EBRD along with other international creditors is one of the rare providers of long term funding which local banks need in order to maintain their lending operations and meet customer demands.Knowledge, innovation and capacity building: The Programme includes extensive capacity building, comprising training, advisory support for participating banks and for Youth MSMEs through ASB activities, allowing all parties to access and benefit from knowledge and expertise that may not be present in the local market. A strong focus is on digital delivery to maximise outreach and improve accessibility to services in the regions outside of capital cities, making the products attractive to young entrepreneurs and micro-companies.The Programme helps the client raise its inclusive financing standards by generating a better awareness and understanding of the needs of the underserved segment of young entrepreneurs. Environmental and Social SummaryCategorised FI (ESP 2019). IYB is an existing client of the Bank and environmental and social due diligence included a review of the annual environmental and social report (the AESR-2022). IYB will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9; continue to implement the applicable the EBRD's E&S Risk Management Procedures for Financial Institutions and Corporate, SME and Micro Lending; and submit Annual Environmental and Social Reports to the Bank. IYB is also required to continue applying the ESMS Risk Management and categorization going forward in line with the EBRD's ESP 2019 including the EBRD's E&S Exclusion and Referral List. The project has defined use of proceeds under the FIF programme and is determined Paris aligned based on the application of the Bank's Paris alignment methodology for indirect finance.Technical Cooperation and Grant FinancingTechnical Cooperation (TC): The Central Asian Youth in Business Programme includes two linked TC components:(i) tailored capacity-building for participating financial institutions:Funding source: SSFAmount/currency: EUR 4 million at the Programme level(ii) capacity-building for Youth MSMEs via the Advice for Small Businesses (ASB) Programme: Funding source: SSFAmount/currency: EUR 6 million at the Programme levelClient contribution: It is expected that the client will contribute in parallel in connection with seminars, events, marketing activities and materials, which may be used for training and promotion of YiB-related products.Non-Technical Cooperation (Non-TC): The project involves a First Loss Risk Cover (FLRC), in favour of the client, of up to 7% of the YiB Loan I (up to USD 700 thousand; limited to 70% per a single sub-loan). The FLRC will compensate for credit losses of IYB, if any, as a result of its participation in the Programme.The project also involves a Performance-based Compensation (PBC) of up to 3% of the YiB Loan (up to USD 300 thousand). The PBC is envisioned to partially compensate IYB for the up-front investments related to building the necessary infrastructure for a sustainable YiB lending expansion.Funding source: SSFCompany Contact InformationDilaziz [email protected]+998 (78) 140-69-43+998 (78) 140-69-05http://www.ipakyulibank.uz/2, Abdulla Qodiriy Street, Tashkent, UzbekistanPSD last updated16 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55204"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a three-year senior loan (MSME Loan II) of up to US$ 10 million in the local currency equivalent to Ipak Yuli Bank (IYB), a major private bank in Uzbekistan. The Loan will be provided under the Financial Intermediaries Framework (FIF). Loan proceeds will be on-lent to local small and medium companies and private entrepreneurs as per the eligibility criteria defined in the Policy Statement for SMEs. Project ObjectivesThe MSME Loan II will enable Ipak Yuli Bank to maintain diversification of its funding base, extend duration of its liabilities and expand financing of MSMEs in Uzbekistan at a multiple of the EBRD financing.Transition ImpactETI score: 60The project contributes to the objectives of the FIF, supporting the Competitive and Resilient transition qualities. FIF seeks to (i) foster MSME competitiveness by increasing availability of financing and (ii) contribute to the competitiveness of financial institutions by enabling innovation in strategy, products, processes and marketing related to MSME lending. By ensuring that banks have adequate underwriting and risk management practices in place, the FIF also seeks to encourage sustainable lending practices, supporting the resilience of the financial system.Client InformationIPAK YULI JOINT-STOCK INNOVATION COMMERCIAL BANKIpak Yuli Bank is a leading privately-owned bank in Uzbekistan with focus on SMEs. With a market share of close to 3 per cent, Ipak Yuli Bank is the fourth largest by assets private bank in Uzbekistan out of 25 private banks.  EBRD Finance Summary USD 10,000,000.00 A three-year senior unsecured loan of up to US$ 10 million equivalent provided in a single tranche in the synthetic local currency (Uzbek Sum).Total Project Cost USD 10,000,000.00 AdditionalityFinancing Structure: The EBRD offers local currency financing on terms not readily available in the market. The EBRD offers a tenor, which is above the market average and is necessary to structure the project.Risk Mitigation: The EBRD's long-term relationship with a client provides comfort to the client to be willing to take on more risk and/or finance expansion in the MSME sector.Environmental and Social SummaryCategorised FI (ESP 2019). IYB is an existing client of the Bank and environmental and social due diligence included a review of the annual environmental and social report (the AESR-2022). IYB will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9; continue to implement the applicable the EBRD's E&S Risk Management Procedures for Financial Institutions and Corporate, SME and Micro Lending; and submit Annual Environmental and Social Reports to the Bank. IYB is also required to continue applying the ESMS Risk Management and categorization going forward in line with the EBRD's ESP 2019 including the EBRD's E&S Exclusion and Referral List. The project has defined use of proceeds under the FIF programme and is determined Paris aligned based on the application of the Bank's Paris alignment methodology for indirect finance.Technical Cooperation and Grant FinancingTechnical Cooperation (TC): None.Non-Technical Cooperation (Non-TC): None.Company Contact InformationDilaziz [email protected]+998 (78) 140-69-43+998 (78) 140-69-05http://www.ipakyulibank.uz/2, Abdulla Qodiriy Street, Tashkent, UzbekistanPSD last updated16 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55205"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionAn equity investment of EUR 10.3 million in Starlight II SARL, a parent company of Pfleiderer Polska z o.o. ("Pfleiderer", the "Company"), a leading Polish manufacturer of wood-based panels. The Bank's funds, together with additional equity contributions from other shareholders, will enable the implementation of a comprehensive value creation plan at the Company and further strengthen its competitive positioning.Project ObjectivesThe project is expected to transform the Company into a highly attractive asset and will further support the private equity ecosystem in Poland during a period of reduced liquidity and increased international investor risk aversion, thus contributing to the resilience of capital markets.Transition ImpactETI score: 65The Project's Transition impact derives from the Resilient and Completive transition qualities. Under Resilient, Bank's co-investment with Innova will both support Company's growth prospects and improve the visibility of PE investments in Poland and the region. Under Competitive, the Company will benefit from investors' operational and sustainability expertise reflected in the value creation plan.Client InformationSTARLIGHT IIStarlight II SARLStarlight II SARL is a Luxembourg-domiciled financial entity, through which financial investors (including the EBRD and Innova/7) together with the family office of Bogdan and Elzbieta Kaczmarek will hold their interests in Pfleiderer Polska sp. z o.o., an established supplier of a wide range of particleboard-based products to industrial customers and wholesalers in Poland and abroad.EBRD Finance SummaryAn equity investment of EUR 10.3 million in Starlight II SARL, a parent company of Pfleiderer Polska z o.o., a leading Polish manufacturer of wood-based panels. The Bank's funds, together with additional equity contributions from other shareholders, will enable the implementation of a comprehensive value creation plan at the Company.AdditionalityThe EBRD bridges the financing gap in the Project's financing structure and will drive the implementation of the ESAP including a commitment to develop and implement a Low Carbon Transition Plan reducing the use fossil fuels and carbon emissions. Environmental and Social SummaryCategorised B (ESP 2019). Acquiring an indirect shareholding within the Company, a producer of wood-based products for use in furniture, fittings and construction is considered to be associated with site-specific impacts which are readily addressed by mitigation measures. Environmental and Social Due Diligence (ESDD) has been carried out internally by ESD consisting of a review of an independent due diligence report carried out of the Company's three production sites (which largely focussed on legal compliance and material liabilities), the Company's annual public sustainability report and the Company's response to specific questions on E&S issues.The Company operates in accordance with EU-Best Available Techniques, implements ISO certified management systems, and publishes an annual sustainability report covering the 3 sites with associated objectives and targets on environmental performance. They also have future investment plans which include further reduction of energy usage and increase the proportion of recycled wood in their products.As part of the ESDD, key environmental and social impacts of the Company's operations have been assessed and the Project is structured in compliance with the PRs through the implementation of the Environmental and Social Action Plan (ESAP). The Bank is familiar with the wood product production sector and the typical E&S impacts and risks are considered to be low-medium and effectively managed using standard processes and mitigations. ESAP will require a follow-on audit, undertaken by a third-party, of the Company's compliance with the PRs and the development and implementation of a gap closure plan, to be agreed with EBRD.The ESAP also requires the Company to operate in accordance with the PRs, maintain the existing E&S management systems and ISO certifications and appoint of a corporate E&S manager to ensure its implementation. Developing and implementing a decarbonisation plan to ensure the phase out of coal, which is used, together with biomass for thermal energy generation for the production process at two of the plants; undertaking a sustainability assessment of groundwater abstraction and wood consumption volumes and setting targets to further reduce this resource usage. The Company currently sources a proportion of its biomass from Forest Stewardship Council certified forests and will be required to develop a procedure for sustainable biomass procurement which will include that biomass for energy meets the sustainability requirements in the Renewable Energy Directive II and that preference continues to be given to sourcing biomass used in production is sourced from suppliers certified to a recognised international standard for sustainable forest management.The Company will also be required to continue to publish annual sustainability reports and report to EBRD on a regular basis on E&S performance including ESAP implementation.Technical Cooperation and Grant FinancingNoneCompany Contact InformationJakub Wolodkowww.pfleiderer.plul. Strzegomska 42 ABMillennium Tower IV53-611 WroclawPSD last updated16 Apr 2024Related materialFramework projectFramework: Direct Finance Framework non SMEPublished: 01.06.2017 var projFinderService = '/project-finder-json?1=1'; var projectId = "55047"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionAn up to EUR 108.35 million senior secured loan to Olympic Commercial & Tourist Enterprises SA ("Olympic", or the "Company") in Greece.  The loan consists of €40.6 million of EBRD financing, blended with €67.7 million of RRF loans channelled through the Greek Ministry of Finance to the EBRD/EU Special Fund. The project is the fifth sub-operation under the EBRD's Greek Recovery and Resilience Facility (RRF) Co-Financing Framework, implemented as part of the "Greece 2.0" National Recovery and Resilience Plan, funded by the European Union's (EU) NextGenerationEU programme.Project ObjectivesThe loan will finance the purchase of new Electric Vehicles (EVs) to replace Internal Combustion Engine (ICE) vehicles in Olympic's leasing and rental portfolio (the "Project"). The total Project cost of EUR 135.43 million will be funded from the EUR 108.35 million proposed debt-financing package and EUR 27.09 million from Olympic's own funds. The Project addresses the strategic directions of the EBRD Country Strategy for Greece, which aims to "support transition to a green, low-carbon economy" and "support the decarbonisation across sectors through direct engagement with private clients" and is in line with Greece's Recovery and Resilience Plan by "contributing to clean urban transport rolling stock", promoting the decarbonisation of the Greek economy.Transition ImpactETI score: 62The transaction contributes to the Green TI Quality as the targeted investments will support the growth of zero-emission vehicles in the Borrower's leasing and rental portfolio in Greece. Furthermore, the Project supports the Inclusion Quality, via promotion of greater workforce diversity.Client InformationOLYMPIC COMMERCIAL AND TOURISTENTERPRISES SINGLE MEMBER SAOlympic is one of the leading car rental and leasing companies in Greece and the master franchisee of Avis Budget Group in the country, operating a fleet of ca. 60,000 vehicles. EBRD Finance Summary EUR 40,630,026.00 Total Project Cost EUR 135,433,420.00 AdditionalityEBRD enables the Company's access to competitive RRF financing. Olympic benefits from this financing tool to enable an innovative technology (EVs) to become more widespread. Such funds would help the Company to accelerate the rollout of greener vehicles in a market with low electric vehicles penetration, also supporting the realization of the country's sustainable transportation goals. Additionally, the Project promotes women's economic inclusion and empowerment within the Company.  Environmental and Social SummaryCategory C (2019 Environmental and Social Policy). Environmental and Social Due Diligence (ESDD) concluded that the current Environmental & Social (E&S) management practices of the Company has sufficient capacity to manage the E&S risks and will continue to follow the Environmental Policy and Code of Ethics of Avis Budget Group meaning that the project can be readily managed. Projects under EU's Resilience and Recovery Facility (RRF) are required to demonstrate that they Do No Significant Harm (DNSH), which requires application of the InvestEU Sustainability Proofing guidance for the climate and environmental dimensions of the Project. ESDD has confirmed that E&S impacts are low risk and readily mitigated, and therefore no detailed sustainability proofing is required, and the Project meets the DNSH requirement for the RRF. The Project has also obtained RRF auditor approval from an independent party providing assurance services on DNSH. The findings of the ESDD also showed that the Company is certified for Environmental and Energy management in accordance with ISO14001 and ISO50001 and is pursuing further certification for Health & Safety and Quality assurance. A comprehensive E&S training programme is in place which includes regular Health and Safety training. All Company locations in Greece have undergone Health & Safety risk assessments and have site-based safety technicians. An emergency preparedness and response plan is in place and the company carries out regular hands-on fire safety and first aid trainings. The Company has a water recycling system for car wash operations and a waste management plan for recycling of domestic waste and management of hazardous wastes.The Bank will monitor Olympic's performance through submission of Annual Environmental and Social Reports (AESRs) to ensure the Project is in full compliance with EBRD Performance Requirements.Technical Cooperation and Grant FinancingNoneCompany Contact InformationYannis [email protected](+30) 21 068 796 42https://www.avis.grVas. Georgiou 50A, Chalandri Attica, 15233, GreecePSD last updated15 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55009"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionPortfolio Risk Sharing ("PRS") in the form of an unfunded guarantee of up to EUR 25m provided by the Bank in favour of ACBA Bank. The guarantee will cover up to 50% of the credit risk on a pro rata basis on the newly-generated MSME loan portfolio originated by ACBA Bank. Project ObjectivesThis project is the first pilot implementation of the Portfolio Risk Sharing product by the EBRD in Armenia. The product aims to release a bank's risk-taking capacity to boost on-lending to SMEs, addressing an SME financing gap in the market. Transition ImpactETI score: 60The transition impact of the project derives from Competitive and Resilient transition qualities: the facility will enable ACBA to further expand lending operations to the SME sector in Armenia and derisk ACBA's SME lending operations.Client InformationACBA BANK OJSCACBA bank is a long-standing partner bank of EBRD. It is the 4th largest bank in Armenia in terms of total assets and gross loan portfolio, with 8.5% and 10.8% respective market shares as of YE 2023. EBRD Finance Summary EUR 25,000,000.00 Total Project Cost EUR 50,000,000.00 AdditionalityInnovative financing structures. EBRD offers an innovative financing structure on commercial terms not available from other banks. The project will support the development of a new risk sharing instrument on a portfolio basis of newly originated SME loans. Knowledge, innovation, and capacity building. EBRD provides expertise, innovation, knowledge and capabilities that are material to the timely realisation of the project's objectives, including support to strengthen the capacity of the client for future structured finance projects.Environmental and Social SummaryCategorised FI (ESP 2019). ACBA is a long-standing client of the EBRD and ACBA's past performance and annual environmental and social (E&S) reporting to date for the existing exposures has been good. ACBA will need to continue to comply with Performance Requirements (PRs) 2, 4 & 9 and further comply with the EBRD's Environmental and Social Procedures for Corporate Loans, SME and Micro Loans; adhere to the EBRD's Environmental and Social Exclusion List as well as Referral List introduced with ESP 2019 and submit Annual E&S Reports to the Bank. Sub-borrowers financed through ACBA's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.Technical Cooperation and Grant FinancingTC: Tailored capacity-building for MSMEs, especially for agri MSMEs to strengthen their agribusiness practices and capabilities in the export market via the Advice for Small Businesses team.Non-TC: The project will benefit from the First Loss Risk Cover provided by the European Fund for Sustainable Development (EFSD) Plus Programme. Company Contact InformationAnzhelika [email protected]+37410318888www.acba.am82-84 Aram str. / 0002 Yerevan / Republic of ArmeniaPSD last updated11 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55335"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a sovereign loan of up to € 3.9 million to the Kyrgyz Republic (KR) to finance modernization of an operating 110 kV "Dolinka" substation located in the Issyk-Kul region.Project ObjectivesThe Project is expected to contribute to the overall grid reliability by reducing loads on nearby transmission infrastructure and to reduction of electricity losses. Transition ImpactETI score: 60The Project is in line with EBRD's Green Economy Transition (GET) Approach and will deliver green transition impact with climate change mitigation benefits.Client InformationKYRGYZ REPUBLIC SOVEREIGNThe loan is made to the Kyrgyz Republic, to be on-lent to OJSC National Electric Grid of Kyrgyzstan.OJSC National Electric Grid of Kyrgyzstan (NEGK) is the owner and operator of more than 10,000 km of power transmission lines of 110 kV and higher, as well as 190 substations with primary voltages of 500, 220 or 110 kV, in the Kyrgyz Republic.  OJSC NEGK is 93 per cent owned by the state and is organised as an open joint stock company.  The Company transports around 12 TWh of energy on an annual basis.EBRD Finance Summary EUR 3,900,000.00 Total Project Cost EUR 6,000,000.00 AdditionalityThe EBRD is additional due to the financing structure provided. The Bank offers financing terms that are not available on the market, but necessary to structure the project. The EBRD is expected to close the funding gap through mobilisation of additional financing of € 2,100,000 from an international donor or the EBRD Shareholder Special Fund (SSF).Environmental and Social SummaryCategorised B (2019 ESP) and Low-Medium risk. The environmental and social risks associated with the acquisition and replacement of transformers at the substation are expected to be site-specific,  readily identifiable and can be mitigated through good industry practice. The Environmental and Social Due Diligence (ESDD) will be carried out by an independent consultant and include assessment of the Client's Environmental and Social management systems, a site visit and a review of the Client's current operations and the proposed Project. The Project is expected to have indirect environmental benefits by upgrading substation capacity to support the transition to renewable energy integration. Key environmental and social impacts related  to the proposed investment include labour and working conditions, occupational health and safety including electrical and road safety, contractor management during replacement and maintenance, pollution prevention issues such as hazardous waste management and grievances from the project  stakeholders. Impacts on biodiversity, cultural heritage or economic displacement are not expected  as installation works will take place at the existing substation sites. At this stage, no associated facilities have been identified. Due diligence will also review E&S risks in the project supply chain and arrangements for the old transformers being replaced. Based on the ESDD, an Environmental and Social Action Plan (ESAP) will be developed to structure the Client's existing operations and the Project to align with the Bank's Performance Requirements (PR's) and good industry practice. The Bank will monitor compliance with the PR's by reviewing annual reports prepared by the Client on  environmental and social matters. The Bank will also undertake monitoring site visits, as needed.  The PSD will be updated upon completion of the ESDD.Technical Cooperation and Grant FinancingThe Project will be supported through the following technical assistance:1. Project Implementation Support. (i) Preparation of detailed design for works, (ii) assistance with procurement of the goods, works and services under the Project including development of tender documentation, tenders evaluation and contracting, (iii) assistance with the establishment of the PIU; (iv) assistance with the supervision of contracts' implementation and supervision of the works (in the role of the contracts' Engineer); and (v) environmental and social implementation support and assistance with compliance and reporting obligations under the financing documents.  Total cost for the Project is estimated to be up to € 500,000 and is expected to be financed by an international donor or the SSF.2. Environmental and Social Due Diligence. The cost for the Project is estimated to be at  € 25,000 and is expected to be funded by international donor or SSF.Company Contact InformationMukhammad Kuramayev+996 (312) 67-03-35www.nesk.kgPSD last updated11 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55486"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionProvision of a loan in the amount of up to EUR 14.2 million to Braila water company ("CUP Dunarea Braila" or the "Company"), the regional water operator in Braila County, Romania. The proceeds of the Bank's investment will be used to co-finance, alongside EU funds, water and wastewater investments under the relevant EU Infrastructure Programme ("EU Programme") in Romania (the "Project").Project ObjectivesThe Project will enable CUP Dunarea Braila to: (i) extend its water and wastewater network and services in the region; and (ii) meet compliance with the relevant EU water and wastewater standards in the Project area.Transition ImpactETI score: 60The Project's transition impact derives from "Green" and "Resilient" qualities through: Improvement of water supply and wastewater treatment services, targeting compliance with EU standards, and extension of CUP Dunarea Braila's coverage. Water tariff policy and introduction of long-term asset management practices. Client InformationWATER AND SEWAGE COMPANY OF THE CITY OF BRAILAwww.cupdunarea.ro +4 (0) 239 692 900str.Piata Uzinei, nr.1, Braila City, Braila County810140RomaniaEBRD Finance Summary EUR 14,200,000.00 Total Project Cost EUR 240,800,000.00 AdditionalityThe Bank is additional through: Financing structure: The Bank will provide necessary long-term financing that is not readily available from commercial banks. Standard-setting: The EBRD will help the Company achieve higher standards and increase compliance with EU regulations, including improvement in knowledge, innovation and capacity building and adoption of gender standards and / or equal opportunities action plans. Environmental and Social SummaryCategorised B (2019 ESP). The environmental and social due diligence (the "ESDD") for the Project has been carried out by independent consultants and included a review of existing documentation and investment plan consisting of EU Cohesion Fund application documents (including the Feasibility Study) and documents submitted to the authorities (EIA procedure) and status of approvals and comments received.The Client has implemented the Quality Management System according to SR EN ISO 9001:2015, the Environmental Management System according to SR EN ISO 14001:2015, the Health and Safety Management System at work according to SE ISO 45001:2018, as well as System of Anti-bribery Management according to SR ISO 37001:2017.The Company's HR systems comply with national laws and EBRD's PR 2, as well as are aligned with international standards and norms. The Company actively works towards creating an inclusive and equitable work environment, and sufficient measures are taken to prevent and address any form of discrimination. Before their engagement, at the tendering stage, contractors and consultants are required to submit a written statement to the Company that they comply with relevant national environmental, social and labour legislation and procedures.The environmental and social ("E&S") appraisal demonstrated that the environmental and social impacts of the proposed upgrading and expanding water supply and wastewater systems will be mainly of limited duration and extent and can be mitigated through standard methods and good construction practices. Permitting under the EIA Directive transposed into national legislation has been finalized for this investment. There are a number of works within the vicinity or inside a number of several NATURA 2000 Birds Importance Area (SPA) and Site of Community Importance (SCI) sites: (ROSPA 0005 and ROSCI 0006 and Balta Mica a Brailei, ROSPA 0040 and ROSCI 0040 i Bratul Macin, ROSCI 0103 and ROSPA 0160 Lunca Buzaului, ROSPA 0004 and ROSCI 0005 Balta Alba-Amara-Jirlau, ROSPA 0071 and ROSCI 0162 Lunca Siretului Inferior, ROSPA 0048 Ianca Plopu-Sarat, ROSPA 0145 and ROSCI 0145 Valea Calmatuiului, ROSPA 0006 Balta Tatarului). The proposed works consist of drillings and extension of water supply and sewage pipelines. Based on the assessment performed by CUP Dunarea's consultants in the environmental permitting process to this stage, namely the Appropriate Assessment of the investment as well as the option analysis considered in the Feasibility Study, no negative impact is expected during construction or after the completion of works. Overall, the Project is assessed to have a positive impact on the Natura 2000 sites through the reduction of unplanned wastewater discharges into aquatic ecosystems. However, measures for the protection of the Natura 2000 sites are to be included in the Environmental Management Plan ("EMP") and the Client will ensure that biodiversity expertise is in place to supervise works in the immediate proximity of all Natura 2000 areas. It is recommended that the custodians of the Client's areas are included as stakeholders in the Project's Stakeholder Engagement Plan ("SEP").There will not be any involuntary resettlement of formal settlements, expropriation/acquisition of private land, or any known use of currently occupied land related to project activities. All land proposed for the Project is public land. In some cases, temporary access to private land for rehabilitation and extension of the water and wastewater pipelines will be needed. Any temporary use of land and possible economic displacements of informal users that may result from the Project will be carried out in accordance with the national requirements and EBRD's PR 5.The consultants have drafted a SEP and Environmental and Social Action Plan ("ESAP"), which will need to be agreed with the Client prior to EBRD's Board approval. The ESAP, among others, includes: updating of E&S management system plans and procedures; development and implementation of construction E&S management plans; ensuring biodiversity expertise is in place to supervise works in the immediate proximity of all Natura 2000 areas; measures for any potential temporary use of land and possible economic displacements; development of chance find procedure; update and implementation of the SEP.The Bank will monitor the Project and implementation of the SEP and ESAP through annual reports provided by the Client.Technical Cooperation and Grant FinancingThe Project has benefited from pre-signing due diligence assignments (technical, financial, environmental and operational) included under SWIFT Framework. The amount of these assignments was EUR 102,000 and was financed by the EBRD Shareholders Special Fund ("SSF").Company Contact Informationnull+4 (0) 239 692 900www.cupdunarea.rostr.Piata Uzinei, nr.1, Braila City, Braila CountyPSD last updated11 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "53047"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a sovereign loan of up to € 5.1 million to the Kyrgyz Republic (KR) to finance upgrade of an operating 35 kV "Rechnaya" substation (located in the Osh region) to 110 kV voltage class .Project ObjectivesThe Project is expected to contribute to the overall grid reliability by reducing loads on nearby transmission infrastructure and to reduction of electricity losses. Transition ImpactETI score: 60The Project is in line with EBRD's Green Economy Transition (GET) Approach and will deliver green transition impact with climate change mitigation benefits.Client InformationKYRGYZ REPUBLIC SOVEREIGNThe loan is made to the Kyrgyz Republic, to be on-lent to OJSC National Electric Grid of Kyrgyzstan.OJSC National Electric Grid of Kyrgyzstan (NEGK) is the owner and operator of more than 10,000 km of power transmission lines of 110 kV and higher, as well as 190 substations with primary voltages of 500, 220 or 110 kV, in the Kyrgyz Republic.  OJSC NEGK is 93 per cent owned by the state and is organised as an open joint stock company.  The Company transports around 12 TWh of energy on an annual basis.EBRD Finance Summary EUR 5,100,000.00 Total Project Cost EUR 8,000,000.00 AdditionalityThe EBRD is additional due to the financing structure provided. The Bank offers financing terms that are not available on the market, but necessary to structure the project. The EBRD is expected to close the funding gap through mobilisation of additional financing of € 2,900,000 from an international donor or the EBRD Shareholder Special Fund (SSF).Environmental and Social SummaryCategorised B (2019 ESP) and Low-Medium risk. The environmental and social risks associated with the acquisition and replacement of transformers at the substation are expected to be site-specific,  readily identifiable and can be mitigated through good industry practice. The Environmental and Social Due Diligence (ESDD) will be carried out by an independent consultant and include assessment of the Client's Environmental and Social management systems, a site visit and a review of the Client's current operations and the proposed Project. The Project is expeted to have indirect environmental benefits through reduction of electricity losses stemming from upgrade of the substation to higher voltage. Key environmental and social impacts related  to the proposed investment include labour and working conditions, occupational health and safety including electrical and road safety, contractor management during replacement and maintenance, pollution prevention issues such as hazardous waste management and grievances from the project  stakeholders. Impacts on biodiversity, cultural heritage or economic displacement are not expected  as installation works will take place at the existing substation sites. At this stage, no associated facilities have been identified. Due diligence will also review E&S risks in the project supply chain and arrangements for the old transformers being replaced. Based on the ESDD, an Environmental and Social Action Plan (ESAP) will be developed to structure the Client's existing operations and the Project to align with the Bank's Performance Requirements (PR's) and good industry practice. The Bank will monitor compliance with the PR's by reviewing annual reports prepared by the Client on  environmental and social matters. The Bank will also undertake monitoring site visits, as needed.  The PSD will be updated upon completion of the ESDD.Technical Cooperation and Grant FinancingThe Project will be supported through the following technical assistance:1. Project Implementation Support. (i)preparation of detailed design for works, (ii) assistance with procurement of the goods, works and services under the Project including development of tender documentation, tenders evaluation and contracting, (iii) assistance with the establishment of the PIU; (iv) assistance with the supervision of contracts' implementation and supervision of the works (in the role of the contracts' Engineer); and (v) environmental and social implementation support and assistance with compliance and reporting obligations under the financing documents.  Total cost of the assignment on this Project is estimated to be up to € 500,000 and is expected to be financed by an international donor or the SSF.2. Environmental and Social Due Diligence. The cost of the assignment on this Project is estimated to be at  € 25,000 and is expected to be funded by international donor or SSF.Company Contact InformationMukhammad Kuramayev+996 (312) 67-03-35www.nesk.kgPSD last updated11 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "55487"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionProvision of a long-term senior loan of up to USD 140 million (c. EUR 129 million) to finance the acquisition of the Gabal El Zeit windfarm, a 580 MW windfarm located in Gulf of Suez area in Egypt.  The plant will sell power to the Egyptian Electricity Transmission Company (EETC) under the terms of a long term power purchase agreement. Project ObjectivesThe project will be one of the first state-owned assets to be privatised under the Egyptian government's wider privatisation program announced in 2023. The project will further promote private sector participation and the liberalisation of Egypt's electricity market.Transition ImpactETI score: 81The project will target the "Competitive" quality by supporting the full privatisation of a majority state-owned entity, contributing to the gradual liberalization of the sector.  The project will also contribute to the "Resilient" quality by providing foreign currency into the economy and promoting sustainable economic growth.Client InformationTO BE DEFINEDA newly established special purpose vehicle incorporated in Egypt for the sole purpose of owning and operating the Gabal El Zeit Wind farm, which is envisaged to be ultimately 100% owned by Actis Long Life Infrastructure Fund.  AdditionalityEBRD's additionality mainly derives from (i) the Bank is offering financing on reasonable terms and conditions that is expected to close the funding gap, (ii) the Bank is offering a tenor, which is longer than available to the client in the market on reasonable terms and conditions, and (iii) EBRD is offering local currency financing on terms not readily available in the market.Environmental and Social SummaryCategorised B (2019 ESP).  The Project involves the acquisition of an existing 580 MW wind power project (WPP) composed of 290 wind turbines.  The WPP is located in the Gulf of Suez in Egypt, was built in three phases (first operational in 2014) and was the first WPP in this area.  As the WPP is an existing operating facility with no planned expansion, the Project has been categorised as B in line with EBRD's ESP.  The Project is expected to result in improvements to the WPP and how it is operated, and in particular, further reducing impacts to birds.  The Client has experience with the sector and its associated risks having been involved in the West Bakr project, an EBRD WPP located in the GoS.  E&S due diligence (ESDD) for the Project has been undertaken by Consultant and an ESAP will be agreed with the Client to structure the Project in line with EBRD's E&S requirements. The WPP is located within the Red Sea/Rift Valley flyway, which is a globally important flyway for migratory soaring birds during spring and autumn, and within the Gebel El Zeit Important Bird Area (IBA), which was designated to protect a strategic location within the flyway.  The IBA is the narrowest part of the southern GoS and is also an important stop off point for birds that cross the Red Sea.  The WPP, like other existing and planned WPPs in the GoS, presents a significant collision risk to various migrating bird species due to its location on a flyway.ESDD has shown that the WPP was subject to ESIAs as part of their permitting and funding processes.  These ESIAs included various bird surveys and analysis of impacts, including collision risk.  To mitigate collision risk the WPP adopted a turbine shut on demand approach where a team of bird observers present in the WPP area during spring and autumn issue instructions to temporarily shut down turbines when a risk of collision is observed.  This is based on certain criteria and has served as the basis for an effective system of collision avoidance and reduction which is now applied to all WPPs in the GoS, including those financed by EBRD.  Bird observers are complemented by radar in the spring and Post-Construction Fatality Monitoring (PCFM) is also undertaken to identify bird fatalities.  The ESDD determined that while the system is effective, there have been bird fatalities and various areas for improvement have been identified, which would further reduce fatalities.  These areas for improvement will be a required through the ESAP.Subsequent to the development of the WPP, various lenders supported private sector WPPs outside the IBA.  The ESIAs for these WPPs determined that the IBA is critical habitat as per EBRD PR6 (and IFC PS6).  Projects located in critical habitat are required to demonstrate a net gain for the critical habitat impacted by the Project.  In the case of the WPP, impacts on critical habitat features (migrating birds) are an ongoing risk during the operation of the WPP.  In addition to measures to improvement turbine shut down approaches, Project has developed a draft Biodiversity Action Plan which sets out indicative actions necessary to meet the net gain requirement.  This involves actions within the Project area and along the flyway in other countries.  The BAP is being finalised, stakeholders engaged and the actions costed.  Implementation of the BAP will be an ESAP requirement. The WPP is currently operated by an O&M contractor which has in place various management systems and procedures.  The ESDD has identified some areas where improvements are required to ensure alignment with EBRD's E&S requirements.  Further actions have identified to ensure full alignment with EBRD's PR2 with respect to project specific HR policies and procedures and PR4 with respect to certain health and safety provisions.  The WPP is distant to inhabited areas and therefore impacts, such as noise, shadow flicker, etc., are limited.  The WPP is located on state land and no land acquisition was required.  The ESDD has identified some improvements necessary for security management and the management of waste, including hazardous waste.  A worker and public grievance mechanism is in place.  Stakeholder engagement was undertaken as part of the ESIA disclosure process but subsequent stakeholder engagement appears to be limited.  A stakeholder engagement plan has been developed as part of the ESD.  All required actions will be included in the ESAP. PSD last updated09 Apr 2024Related materialTranslation: Gabal El Zeit windfarm (Arabic) Type: PDF, Published: 18.04.2024, Language: Arabic var projFinderService = '/project-finder-json?1=1'; var projectId = "54928"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionEUR 12 million to finance implementation of various energy efficiency measures and potentially renewable energy technology (solar photovoltaic) in three public hospital buildings: (i) the Clinical Centre in Podgorica; (ii) a hospital in Cetinje; and (iii) a hospital in Bijelo Polje. Project ObjectivesThe Project will improve energy performance and environmental sustainability of the renovated hospitals, improve damaged structures and air quality, as well as comfort level, which are very important for buildings of this nature. The Project will contribute to reduction of GHG emissions and energy consumption, yielding electricity and heating savings. Additionally, achievement of higher standards of heating, cooling and ventilation will result in improved thermal comfort for the users of three hospitals:Clinical Centre of Montenegro in Podgorica i 23,278sqm, which is the largest and most important hospital in Montenegro.Hospital in Bijelo Polje i 15,000sqm, andHospital in Cetinje i 4,194sqmThe selected hospitals are managed by the Ministry of Health ("MoH" or the "Client"). According to the Feasibility Study total gross area of the buildings included in the investment programme is 37,65sqm and the total investment cost is in the order of EUR 15,000,000. The specific investment cost is therefore 358.4 EUR/sqm gross area and the specific cost savings are 52.1 EUR/sqm per year.Transition ImpactETI score: 60ETI 60.The expected transition impact of the Project stems primarily from the Green transition quality under the Bank's Green Economy Transition ("GET") approach as 100% of the use of proceeds will contribute to energy efficiency improvements these hospitals, resulting in reduction of CO2 emissions. Furthermore, the Project includes technical cooperation ("TC") to help perform environmental and social due diligence, feasibility study and project preparation support. Client InformationMONTENEGRO SOVEREIGNThe Client or the Beneficiary of the loan is the Government of Montenegro - Ministry of Health ("MoH"), which has overall responsibility for the healthcare policy, strategic decisions in health system, maintenance and (re)construction of public hospital buildings and capital investments. In 2023, MoH together with the State Health Insurance Fund ("SHIF") had an operational budget of EUR 391 mln or 16% of the total country's expenditures. Draft Budget Law for 2024 provides EUR 430 mln for regular operations of the public health system. EBRD Finance Summary EUR 12,000,000.00 SOURCES TOTAL: EUR   16.1 mln      USES TOTAL:  EUR 16.1 mln EBRD Financing:        EUR   12.0 mln    Capex:                 EUR 14.9 mlnREEP:                          EUR  3.0 mln    Front-end fee:      EUR   0.1 mlnTC funds:                     EUR  1.1 mln    TC:                      EUR   1.1 mln Total Project Cost EUR 15,000,000.00 NoItemCost in EUR million1 Upgrade of HVAC system - 5.142 Installation of BEMS - 0.503 Installation of PV system - 0.794 Lighting system upgrade - 0.345 Insulation of building envelope - 1.206 General infrastructure improvements (non-energy measures) - 1.797 Technical support costs - 1.498 Contingences (25%) - 3.75TOTAL - 15.0AdditionalityFinancing Structure The Bank provides long-term financing, which is not readily available in Montenegro from local or international commercial banks. The proposed tenor and grace period are above the market average, and are necessary to structure the Project given its use of proceeds.Public sector: EBRD investment is needed to close the funding gap. At the same time, EBRD does not crowd out other sources, such as from IFIs, government, commercial banks and/or complements them.Standard-setting: helping projects and clients achieve higher standards.The Bank's experience in financing similar projects, existing long-term relationship with the Government and on-going policy dialogue on sector reform process is highly appreciated by Montenegrin side. The Client will also comply with the Bank's environmental and social policies.Standard setting:Client seeks/makes use of EBRD expertise on best international procurement standards.The Project includes a TC to assist the Company's with procurement capacity building and procurement of the equipment in line with the Bank's PP&R.Standard-setting: helping projects and clients achieve higher standardsClient seeks/makes use of EBRD expertise on higher inclusion (e.g. adherence to labour standards which goes beyond the provisions set in PR2 of the environmental and social policy, development of comprehensive and institutional corporate social responsibility programmes), gender standards and/or equal opportunities action plans (e.g. improving women's access to safe transport and/or women-led businesses participation in the client supply chain).The Project will achieve higher energy efficiency standards, that will, most likely, go beyond national requirements.Environmental and Social SummaryCategorised B in line with 2019 ESP. This project will produce many E&S benefits from improved energy efficiency of the existing hospital buildings and use renewable energy sources, including reduced energy usage and GHG emissions reduction, better lighting and insulation, improved resilience to climate-related impacts, improved indoor air quality and overall comfort of the hospital buildings for patients.Environmental and Social Due Diligence (ESDD) comprised of an E&S audit and assessment of priority investments carried out by independent consultants, including ACM review and a high-level Life and Fire Safety Assessment for the project sites. It has identified that the Client's E&S management systems and internal E&S capacity to implement successfully the EE improvements at the hospitals as well as their labour and contractor management practices will require further improvement.The projects will undergo national approval process for each of the 3 hospitals EE improvements scope of works after the Main Design development is complete and will be required to obtain the necessary construction and environmental permits, approvals and authorisations. The project will not require any additional land acquisition and all construction works will be taking place within the footprint of the existing sites. The project will not have impacts on any sensitive areas or protected sites. All three hospitals plan to continue providing health services during construction works, and no interruption of hospital services is expected. The patients/staff will be relocated safely and temporarily within the existing hospital facilities for the limited time of the construction works.Potential E&S impacts and risks will be commonly associated with the construction phase, including dust and noise generation, increased traffic and nuisance. The main receptors of these impacts will be hospital users. ESDD identified the need to improve storage and disposal of hazardous and non-hazardous wastes on hospital sites, including old fluorescent lights and PCB transformer oils. Some concerns on limited asbestos presence in the ventilation ducts have been identified for Bijelo Polje site. For that an ACM Management Plan will need to be developed and implemented prior to start of the construction works and any ACMs will need to be removed and disposed of by competent contractors. The Client will also need to develop and implement an Emergency Preparedness and Response Procedure for the hospital sites. The renewable energy will be generated from distributed solar PV panels installed primarily on hospital roofs and the cumulative capacity for the three sites will be substantially below 5MW. Hence, the Client will need to use EBRD GTS to select from the approved suppliers of the Solar PV technology, in line with the Management approach to Solar Supply Chain Risk Management.ESDD confirmed that any impacts and risks are temporary, site-specific and can be effectively avoided, reduced or remedied through the implementation of mitigation measures outlined in the Project's ESMP and ESAP. A Project Implementation Unit (PIU) will be established by the Ministry and hospital representatives, and a PIU Support Consultant will be engaged to provide expertise in tendering procedures, E&S monitoring and overall Project reporting. The contractor will be required to develop and implement a Construction Environmental and Social Management Plan (CESMP), which includes a Construction Waste Management Plan, OHS Plan, and Traffic Management Plan. Hospitals will also need to implement the corrective measures identified in the Life and Fire Safety Assessment, and Bijelo Polje site will also require implementation of the ACM Management Plan. This will address identified deficiencies in the current infrastructure and procedures, with a primary focus on prioritising the safety of all hospital occupants. A comprehensive Stakeholder Engagement Plan (SEP), including a grievance mechanism, has been developed for the project and will need to be fully implemented.An ESAP has been developed to address these issues and support implementation of the project and management of the EHS aspects of the hospitals in line with the Bank's Performance Requirements. ESD will monitor the project through annual environmental and social reports provided by the client and site visits, if deemed necessary.Technical Cooperation and Grant FinancingTechnical Cooperation (TC)TC1: Energy Efficiency Feasibility Study.Main objective of assignment and how it supports investment (may refer to other sections, e.g. TI objective table):Funding source: Austrian DRIVE FundAmount/currency and funding status "confirmed": EUR 49,630. TC2: Procurement Support for the selection of the PIU Consultant.Support with the selection of the PIU Consultant, including preparation of Request for Proposal documentation, procurement support and contracting support:Funding source: EBRD Shareholder Special Fund ("SSF").Amount/currency and funding status "confirmed": EUR 24,900. Post-signing: TC3: Project Implementation support and Energy Audit of the buildings - preparation of preliminary and detailed design, technical specifications for preparation of tenders for EE measures in the buildings, works supervision.Main objective of assignment and how it supports investment: The overall objective of the Assignment is to facilitate the timely and effective implementation of the Project by providing assistance to the Client and the EBRD. The Consultant will be responsible for the following: preparation of preliminary and detailed designs, including technical specifications for tender documents, procurement support for the works contract and works supervision for all the envisaged works contracts.Funding source: Regional Energy Efficiency Programme REEP Plus Replenishment II (for EUR 800,000) and EBRD Shareholder Special Fund ("SSF") (for EUR 200,000)Amount/currency and funding status "confirmed": EUR 1.0 million.Company Contact InformationAmra [email protected]+382 20 482 328+382 69 854 485www.mzd.gov.meMinistry of Health,Rimski trg 46, Podgorica MontenegroPSD last updated09 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "54452"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a sovereign loan of up to € 2 million under the Kyrgyz Water Sector Resilience Framework (KWRF) to support the modernisation of water supply infrastructure in the city of Kemin. The loan proceeds will be on-lent to the city of Kemin for the benefit of the Kemin water company. The loan will be co-financed by a EUR 2.0 million investment grant from an international donor or the EBRD Shareholder Special Fund.Project ObjectivesThe Sub-project will finance critical drinking water supply improvements in the city of Kemin, including the rehabilitation and extension of water network, supply and installation of water meters and testing equipment, reconstruction and new construction of reservoir, intake facilities and water disinfection unit, replacement of pumping equipment.Transition ImpactETI score: 70In line with the KWRF, the Sub-project will contribute to the following transition qualities:Well-governed: introducing a standardized tariff methodology and standardized Public Service Contracts ("PSCs"), with well-defined KPIs, and by introducing the Stakeholder Participation Programme.Competitive: through adopting Capacity Development Programmes ("CDPs"), supporting commercialization, enhancing metering and improving collection rates, strengthening water supply network and storage capacity, and increasing access to higher quality water.Client InformationKYRGYZ REPUBLIC SOVEREIGNThe borrower will be the Kyrgyz Republic, represented by the Ministry of Finance. The loan will be on-lent to the city of Kemin for the benefit of the Kemin water company.EBRD Finance Summary EUR 2,000,000.00 A sovereign loan of up to € 2 million to the Kyrgyz Republic. The loan will have a 15-year maturity, including a four-year grace period.Total Project Cost EUR 4,000,000.00 The Sub-project is financed from two sources: (i) an EBRD loan of up to € 2 million and (ii) a capital grant of up to € 2 million from an international donor or the EBRD Shareholder Special Fund.AdditionalityThe Bank will provide long-term financing, which is presently not available from commercial banks.A transparent and cost-reflective tariff methodology will be developed and delivered to the State Water Resources Agency (Agency) to support the standardization of the tariff setting and approval procedures.The Bank will support the Company in achieving higher standards through its conditionalities (e.g., PP&R, ESAP, tariff increase and other covenants).The CDP will improve the Company's institutional, operational, and financial capacity.As part of the CDP, the Company will also make use of the EBRD expertise on higher inclusion and gender standards, enhancing women's economic opportunities as part of the Sub-project.Environmental and Social SummaryThe Sub-project have been categorized B under the 2019 Environmental and Social Policy. An Environmental and Social Audit/Review of the Company's current Environmental Health and Safety, and Social ("EHSS") management practices, operations and facilities, and an Environmental and Social Analysis of the proposed Priority Investments Program ("PIP") were carried out as part of the Feasibility Study by independent consultants.  The Environmental and Social Due Diligence ("ESDD") showed that the proposed Sub-project will have a significant positive impact on health and the environment despite the Sub-project' inability to achieve full EU compliance in the short term. The human health implications of the shortfalls from the EU standards are assessed to be minor in comparison with the benefits of the PIP implementation, which aims to deliver a safer and more reliable water supply to the local population. The Environmental and Social Action Plan ("ESAP") has been developed for the Company to bring it into compliance with national regulations and to meet the EBRD's Performance Requirements ("PRs"), where financially feasible. The ESAP will be included as part of the Loan Agreement and encompass necessary improvements in the Company's EHSS management and capacity, enhancement of water monitoring practices, refinement of chlorine handling procedures, formalization of HR practices, development of improved Occupational Health and Safety ("OHS") practices, implementation of fire safety and emergency response procedures and enhancement of solid waste management practices. Additionally, the Stakeholder Engagement Plan ("SEP") and Non-Technical Summary have been prepared and will be disclosed locally.The Company will be monitored in terms of the environmental and social performance and implementation of the ESAP through annual E&S reports and visits when necessary.Technical Cooperation and Grant FinancingThe following technical cooperation (the "TC") assignments are envisaged as part of this Sub-project:Pre-Loan Signing:Feasibility Study including financial, technical, environmental, and social due diligence. The assignment cost € 460,000 (for 4 sub-projects) and was financed by the EBRD Shareholder Special Fund.Post-Loan Signing:Project Implementation Support. The TC will support the Project Implementation Unit with engineering design and approval, procurement, preparation and evaluation of tenders, contract award and administration, financial control, project management and reporting. The assignment's cost is estimated at up to € 400,000 to be financed by an international donor or the EBRD Shareholder Special Fund.Corporate Development and Stakeholder Participation Programme. The assignment's cost is up to € 600,000 (for 4 sub-projects) to be financed by an international donor or the EBRD Shareholder Special Fund.Non-TC: € 2.0 million investment grant from an international donor or the EBRD Shareholder Special Fund to co-finance capital investments.Company Contact InformationIsakov Zhanybek [email protected]+996 703 773 88581, Israilova street, Kemin city, Chuy region, Kyrgyz RepublicPSD last updated09 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "52267"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionProvision of up to EUR 75 million senior sub-sovereign loan to Riga Airport ("the Airport"). The loan will finance the construction of a new energy efficient multimodal passenger terminal, to remove existing bottlenecks at the check-in and security areas and enable the Airport to utilise its full capacity (the "Project", or the "Terminal"). The investment plan will comprise construction of a modern check-in hall and security control area, baggage reclaim halls, and baggage handling and sorting centre. The Terminal will be constructed alongside the old terminal, which will be also modernised and improved to meet the Airport's needs. The Terminal will become a key interchange in Latvia as it will be connected to both public (through the Rail Baltica Railway Airport station) and private transport. The Project is expected to be co-financed by the Nordic Investment Bank ("NIB") and commercial bank(s).Project ObjectivesThe Project will improve efficiency of the Airport's operations by addressing existing bottlenecks in its check-in and security areas, as well as enhancing Airport's energy efficiency.The investments will include green certified building investments and comprehensive energy, resource efficiency and sustainability measures into the Terminal. The Terminal is to receive a BREEAM (Building Research Establishment Environmental Assessment Method) certification while the Airport is expected to continue its carbon accredited reduction, as per the Net Zero 2050 targets.Transition ImpactETI score: 63Competitive: Construction of a new, and reconstruction of the existing, terminals are expected to generate significant cost efficiency improvements on back of the reduced energy consumption and improved energy efficiency at the Airport. Inclusive: the Project will aim to introduce a skills / training component so as to enhance access to economic opportunities by strengthening a talent pool of market-relevant skills and a range of new nationally relevant training programmes. This component would focus on attracting female recruits.Client InformationRIGA INTERNATIONAL AIRPORT ENTERPRISEThe Riga Airport is 100% owned by the Government of Latvia, via the Ministry of Transport.EBRD Finance Summary EUR 75,000,000.00 EUR 75.0 million senior loan Total Project Cost EUR 167,000,000.00 Total project cost is EUR 167 million (EUR 202 million with VAT)AdditionalityThe EBRD offers financing that is not available in the market from commercial sources on reasonable terms and conditions, while closing the financing gap in the total financing costs, which includes another IFI and commercial bank(s). Moreover, the EBRD provides expertise, innovation, knowledge and/or capabilities that are material to the timely realisation of the Project's objectives.Environmental and Social SummaryCategorised B (2019 ESP). The new terminal building will be undertaken within the footprint of the existing operational airport. The Environmental and Social Due Diligence ("ESDD") undertaken by an independent advisor is ongoing and focuses on the airport's current Environmental and Social ("E&S") Management Systems, review of the Riga Airport operations against national and EU legal requirements and EBRD Performance requirements and potential E&S impacts related to construction and operation of the new terminal building. Project key E&S impacts/risks are expected to be associated with airport operational activities, new terminal construction and old terminal upgrade works and include noise emissions, hazardous substances management, labour management, contractor management, occupational and community Health and Safety ("H&S") including Gender Based Violence and Harassment ("GBVH") and stakeholder engagement. The ESDD will also review on the ground traffic arrangements to and from the Airport and identify an associated facilities to the Project. This PSD will be updated to reflects the findings of the ESDD and details of the Environmental and Social Action Plan agreed with Riga Airport.Technical Cooperation and Grant FinancingTC 1: Traffic and Economic assessment including a Cost-Benefit-Analysis ("CBA"). An independent consultant was hired to review the traffic numbers and prepare economic assessment in line with EBRD methodology. The costs are financed by the InvestEU Advisory Hub.TC 2: Technical and Environmental due diligence. An independent consultant was hired to review the technical, environmental and social aspects of the Project. The costs are co-financed by the Airport and the InvestEU Advisory Hub.Company Contact InformationEduards [email protected]+371 26462150www.riga-airport.comP133, Marupe, Marupes novads, LV-1053, LatviaPSD last updated09 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "54196"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of a sovereign loan of up to € 2 million under the Kyrgyz Water Sector Resilience Framework (KWRF) to support the modernisation of the water supply infrastructure in the city of Shopokov. The loan proceeds will be on-lent to the city of Shopokov for the benefit of the municipal water company. The loan will be co-financed by a € 2 million investment grant from an international donor or the EBRD Shareholder Special Fund (SSF).Project ObjectivesThe Sub-project will finance critical drinking water supply improvements in the city of Shopokov, including the rehabilitation and extension of water network, supply and installation of water meters and testing equipment, reconstruction and new construction of reservoir, intake facilities and water disinfection unit, replacement of pumping equipment.Transition ImpactETI score: 70In line with the KWRF, the Sub-project will contribute to the following transition qualities:Well-governed: introducing a standardized tariff methodology and standardized Public Service Contracts ("PSCs"), with well-defined KPIs, and by introducing the Stakeholder Participation Programme.Competitive: through adopting Capacity Development Programmes ("CDPs"), supporting commercialization, enhancing metering and improving collection rates, strengthening water supply network and storage capacity, and increasing access to higher quality water.Client InformationKYRGYZ REPUBLIC SOVEREIGNThe borrower will be the Kyrgyz Republic, represented by the Ministry of Finance. The loan will be on-lent to the city of Shopokov for the benefit of the Shopokov water company.EBRD Finance Summary EUR 2,000,000.00 A sovereign loan of up to € 2 million to the Kyrgyz Republic. The loan will have a 15-year maturity, including a four-year grace period.Total Project Cost EUR 4,000,000.00 The Sub-project is financed from two sources: (i) an EBRD loan of up to € 2 million and (ii) a capital grant of up to € 2 million from an international donor or the EBRD Shareholder Special Fund.AdditionalityThe Bank will provide long-term financing, which is presently not available from commercial banks.A transparent and cost-reflective tariff methodology will be developed and delivered to the State Water Resources Agency to support the standardisation of the tariff setting and approval procedures.The Bank will support the Company in achieving higher standards through its conditionalities (e.g., PP&R, ESAP, tariff increase and other covenants).The CDP will improve the Company's institutional, operational, and financial capacity.As part of the CDP, the Company will also make use of the EBRD expertise on higher inclusion and gender standards, enhancing women's economic opportunities as part of the Sub-project.Environmental and Social SummaryThe Sub-project have been categorized B under the 2019 Environmental and Social Policy. An Environmental and Social Audit/Review of the Company's current Environmental Health and Safety, and Social ("EHSS") management practices, operations and facilities, and an Environmental and Social Analysis of the proposed Priority Investments Program ("PIP") were carried out as part of the Feasibility Study by independent consultants.  The Environmental and Social Due Diligence ("ESDD") showed that the proposed Sub-project will have a significant positive impact on health and the environment despite the Sub-project' inability to achieve full EU compliance in the short term. The human health implications of the shortfalls from the EU standards are assessed to be minor in comparison with the benefits of the PIP implementation, which aims to deliver a safer and more reliable water supply to the local population. The Environmental and Social Action Plan ("ESAP") has been developed for the Company to bring it into compliance with national regulations and to meet the EBRD's Performance Requirements ("PRs"), where financially feasible. The ESAP will be included as part of the Loan Agreement and encompass necessary improvements in the Company's EHSS management and capacity, enhancement of water monitoring practices, refinement of chlorine handling procedures, formalization of HR practices, development of improved Occupational Health and Safety ("OHS") practices, implementation of fire safety and emergency response procedures and enhancement of solid waste management practices. Additionally, the Stakeholder Engagement Plan ("SEP") and Non-Technical Summary have been prepared and will be disclosed locally.The Company will be monitored in terms of the environmental and social performance and implementation of the ESAP through annual E&S reports and visits when necessary.Technical Cooperation and Grant FinancingThe following technical cooperation (the "TC") assignments are envisaged as part of this Sub-project:Pre-Loan Signing:Feasibility Study including financial, technical, environmental, and social due diligence. The assignment cost € 460,000 (for 4 sub-projects) and was financed by the EBRD Shareholder Special Fund.Post-Loan Signing:Project Implementation Support. The TC will support the Project Implementation Unit with engineering design and approval, procurement, preparation and evaluation of tenders, contract award and administration, financial control, project management and reporting. The assignment's cost is estimated at up to € 400,000 to be financed by an international donor or the EBRD Shareholder Special Fund.Corporate Development and Stakeholder Participation Programme. The assignment's cost is up to € 600,000 (for 4 sub-projects) to be financed by an international donor or the EBRD Shareholder Special Fund.Non-TC: € 2 million investment grant from an international donor or the EBRD Shareholder Special Fund to co-finance capital investments.Company Contact InformationSkandarbek uulu [email protected]+996 504 564 444N/A23, Sovetskaya street, Shopokov city, Chuy region, Kyrgyz RepublicPSD last updated09 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "52121"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionThe provision of s sovereign loan of up to € 3.6 million under the Kyrgyz Water Sector Resilience Framework (KWRF) to support modernization of the wastewater infrastructure in the city of Talas. The loan proceeds will be on-lent to the city of Talas for the benefit of the Talas water company. The loan will be co-financed by a € 3.6 million investment grant from an international donor or the EBRD Shareholder Special Fund.Project ObjectivesThe Sub-project will finance critical wastewater infrastructure improvements in the city of Talas, including construction and rehabilitation of wastewater networks and construction of the wastewater treatment plant.Transition ImpactETI score: 70In line with the KWRF, the Sub-project will contribute to the following transition qualities:Well-governed: introducing a standardized tariff methodology and standardized Public Service Contracts ("PSCs"), with well-defined KPIs, and by introducing the Stakeholder Participation Programme.Competitive: through adopting Capacity Development Programmes ("CDPs"), supporting commercialization, enhancing metering and improving collection rates, strengthening wastewater network, and increasing access to wastewater services.Client InformationKYRGYZ REPUBLIC SOVEREIGNThe borrower will be the Kyrgyz Republic, represented by the Ministry of Finance. The loan will be on-lent to the city of Talas for the benefit of the Talas water company.EBRD Finance Summary EUR 3,600,000.00 A sovereign loan of up to € 3.6 million to the Kyrgyz Republic. The loan will have a 15-year maturity, including a four-year grace period.Total Project Cost EUR 7,200,000.00 The Sub-project is financed from two sources: (i) an EBRD loan of up to € 3.6 million and (ii) a capital grant of up to € 3.6 million from an international donor or the EBRD Shareholder Special Fund.AdditionalityThe Bank will provide long-term financing, which is presently not available from commercial banks.A transparent and cost-reflective tariff methodology will be developed and delivered to the State Water Resources Agency to support the standardisation of the tariff setting and approval procedures.The Bank will support the Company in achieving higher standards through its conditionalities (e.g., PP&R, ESAP, tariff increase and other covenants).The CDP will improve the Company's institutional, operational, and financial capacity.As part of the CDP, the Company will also make use of the EBRD expertise on higher inclusion and gender standards, enhancing women's economic opportunities as part of the Sub-project.Environmental and Social SummaryThe Sub-project have been categorized B under the 2019 Environmental and Social Policy. An Environmental and Social Audit/Review of the Company's current Environmental Health and Safety, and Social ("EHSS") management practices, operations and facilities, and an Environmental and Social Analysis of the proposed Priority Investments Program ("PIP") were carried out as part of the Feasibility Study by independent consultants.  The Environmental and Social Due Diligence ("ESDD") showed that the proposed Sub-project will have a significant positive impact on health and the environment despite the Sub-project' inability to achieve full EU compliance in the short term. The human health implications of the shortfalls from the EU standards are assessed to be minor in comparison with the benefits of the PIP implementation, which aims to deliver a safer and more reliable water supply to the local population. The Environmental and Social Action Plan ("ESAP") has been developed for the Company to bring it into compliance with national regulations and to meet the EBRD's Performance Requirements ("PRs"), where financially feasible. The ESAP will be included as part of the Loan Agreement and encompass necessary improvements in the Company's EHSS management and capacity, enhancement of water monitoring practices, refinement of chlorine handling procedures, formalization of HR practices, development of improved Occupational Health and Safety ("OHS") practices, implementation of fire safety and emergency response procedures and enhancement of solid waste management practices. Additionally, the Stakeholder Engagement Plan ("SEP") and Non-Technical Summary have been prepared and will be disclosed locally.The Company will be monitored in terms of the environmental and social performance and implementation of the ESAP through annual E&S reports and visits when necessary.Technical Cooperation and Grant FinancingThe following technical cooperation (the "TC") assignments are envisaged as part of this Sub-project:Pre-Loan Signing:Feasibility Study including financial, technical, environmental, and social due diligence. The assignment cost € 460,000 (for 4 sub-projects) and was financed by the EBRD Shareholder Special Fund.Post-Loan Signing:Project Implementation Support. The TC will support the Project Implementation Unit with engineering design and approval, procurement, preparation and evaluation of tenders, contract award and administration, financial control, project management and reporting. The assignment's cost is estimated at up to € 400,000 to be financed by an international donor or the EBRD Shareholder Special Fund.Corporate Development and Stakeholder Participation Programme. The assignment's cost is up to € 600,000 (for 4 sub-projects) to be financed by an international donor or the EBRD Shareholder Special Fund.Non-TC: € 3.6 million investment grant from an international donor or the EBRD Shareholder Special Fund to co-finance capital investments.Company Contact InformationToktorbaev Adilet [email protected]+996 700 005 790236, 1 May street, Talas city, Talas region, Kyrgyz RepublicPSD last updated09 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "52122"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

Project DescriptionSenior unsecured loan to Armeconombank in the amount of up to USD 10 million in local currency under the Financial Intermediaries Framework ("FIF") for on-lending to private micro, small and medium enterprises ("MSMEs") in Armenia. Project ObjectivesThe project will improve access to finance for SMEs, which are the main source of employment in the private sector and a major contributor to the economy in Armenia. The loan will enable Armeconombank to increase outreach and meet unsatisfied demand for longer term funding from MSMEs. The focus will also be on lending in the regions outside the capital and attracting new MSME clients. Moreover, the bank will aim to on-lend the proceeds of the loan to women-led MSME's, promoting economic inclusion of female entrepreneurs.  Transition ImpactETI score: 60Competitive: Project will expand its SME portfolio, with a focus on reaching regional clients and attracting new clients. It is in line with the FIF conditions in medium gap countries.Resilient: The project aims to ensure prudent lending practices and adequate portfolio quality. Client InformationARMENIAN ECONOMY DEVELOPMENT BANK OJSC (ARMECONOMBANK)OJSC Armeconombank is a long-standing EBRD partner bank. AEB ranked 7th in the sector by total assets and 6th by loan portfolio with 5.1% and 5.7% market shares respectively as of YE2023. The bank has an extensive distribution network of 54 branches across all the regions of Armenia and over 900 employees. EBRD Finance Summary USD 10,000,000.00 Total Project Cost USD 10,000,000.00 AdditionalityFinancing structure: EBRD offers a tenor, which is longer than available to the client in the market on reasonable terms and conditions.Standard-setting: helping projects and clients achieve higher standards: Client seeks/makes use of EBRD expertise on higher financial standards, including through financial covenants.Gender SMART:  Client seeks/makes use of EBRD expertise for the adoption of gender standards and/or equal opportunities action plans. Environmental and Social SummaryCategorised FI (2019 ESP). AEB's past performance and annual environmental and social (E&S) reporting to date for the existing exposures have been acceptable. Armeconombank will need to ensure further compliance with PRs 2, 4 & 9 and EBRD's Environmental and Social Procedures for Corporate Loans, SME and Micro Loans, and TFP Environmental and Social Procedures, and will be required to submit annual environmental and social reports to the EBRD.Technical Cooperation and Grant FinancingTC: NoneNon-TC: The project will benefit from FLRC of 12.5% under the SME LCY Programme.Company Contact InformationAstghik [email protected]+374-8000-8686www.aeb.am0002, Yerevan, Amiryan str.23/1PSD last updated08 Apr 2024Related material var projFinderService = '/project-finder-json?1=1'; var projectId = "54491"; 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. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: [email protected] For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: [email protected] 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 [email protected]. 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 [email protected] to get guidance and more information on IPAM and how to submit a request.  

A closer look at land use and food production Land-use change constrains the future of food production in the face of climate change and population growth. It degrades agricultural lands, affecting ecosystem functions and services, and threatening the resilience of food production systems (FPSs). However, the way in which agricultural land change builds or undermines food production and the resilience of FPSs is still poorly understood. The EU-funded LucFRes project will study how land-use transformations reshape the resilience of FPSs. The project will integrate the analysis of agricultural land-use changes from satellite remote sensing with stakeholders' perceptions of land-use futures in Southwest Nigeria. An empirical basis for modelling FPSs under changing land-use and policy conditions will be provided to enhance their resilience.Objective Securing food production remains a critical challenge in many world regions. Environmental change, in particular land-use change, constrains food production especially in contexts characterised by competing land demands, high population pressure and food insecurity that got compounded by the COVID-19 pandemic. Land-use change has long-term impacts through land degradation which affects food production systems (FPSs). Hence, an understanding of how changing land-uses shape the resilience of FPSs is therefore urgently needed to enhance agriculture’s adaptation. LucFRes aims to examine the processes operating at the interface of agricultural land-use and food production. Agricultural land-use change will be characterised in terms of the change intensities and the driving factors using Intensity Analysis, a spatially explicit, land change accounting framework. Relevant land-based resilience indicators for FPSs will be identified and validated with stakeholders for Southwest Nigeria. The combination of the satellite remote sensing-based land-use change intensities with stakeholders’ perspectives of likely land-use changes will provide the empirical-basis for modelling FPSs behaviour under changing policy and land management scenarios. To better optimise agricultural land-use change, the modelling will account for trade-offs and options for enhancing synergies between food production and other land uses. Thematically, LucFRes goes beyond the impacts of land-use on agricultural productivity by examining how changes in agricultural land-use build or undermine the resilience of food production systems in Southwest Nigeria, an area that have received little research attention. LucFRes’ integrative and policy-oriented approach will develop trajectories for enhancing the resilience of food production systems in Southwest Nigeria. Conceptually, it will provide a methodology for assessing the resilience of food production systems that is applicable to similar world regions.

Moving towards sustainable fisheries management in European ecosystems The EU-funded SEAwise project will address the need to increase benefits to fisheries while reducing ecosystem impacts under environmental change and increasing competition for space. The network of stakeholders, advisory bodies and scientists will improve stock productivity predictions using environmental metrics, density dependence, predation, stock health indicators and habitat extent. In addition, multispecies-multifleet models will provide ecosystem forecasts of the effect of fisheries management measures. SEAwise tools and courses for stakeholders and decision makers will ensure that these methods can be used directly in Mediterranean, Western European, North Sea and Baltic Sea waters. The predictions will inform an online advice tool highlighting stock- and fisheries-specific social and ecological effects and management trade-offs.Objective SEAwise will address the key challenge preventing implementation of a fully operational European Ecosystem Based Fisheries Management: the need to increase fisheries benefits while reducing ecosystem impact under environmental change and increasing competition for space. The SEAwise network of stakeholders, advisory bodies and scientists will co-design key priorities and approaches to provide an open knowledge base on European Social-Ecological Fisheries Systems. SEAwise will innovate the prediction of social indicators of small-scale fisheries, coastal communities, carbon footprint and human health benefits. Using these indicators in fisheries models will help give advice on economically effective and socially acceptable governance under climate change, productivity changes, and the landing obligation. SEAwise will link the first ecosystem-scale assessment of maritime activities’ impacts on habitats with the fish stocks they support. Using ecosystem effects on fishing, including environmental metrics, density dependence, predation, stock health indicators and habitat extent will improve stock productivity predictions. Estimating effects of fishing on sensitive species, benthic habitats, food webs, biodiversity and litter allows evaluation of the mutual consistency of objectives for ecological and social systems. Multispecies-multifleet models will provide ecosystem forecasts of the effect of fisheries management measures. SEAwise will identify the simplest possible combination of management measures and investigate portfolio diversification as an approach for managing ecosystem resilience and climate adaptation. SEAwise tools and courses for ICES, GFCM, stakeholders and decision makers will ensure that these methods can be used directly in Mediterranean, western European, North Sea and Baltic Sea waters. The predictions will inform an online advice tool highlighting stock- and fisheries-specific social and ecological effects and management trade-offs.

Is Europe doing enough to tackle climate change? As every additional half-degree of global warming may inflict a plethora of harmful consequences on planetary health, Europe is committed to accelerating efforts regarding climate change adaptation. However, adaptation will not be sufficient in some regions and communities. In this context, the EU-funded REGILIENCE project will pave the way for regional climate resilience pathways. To that end, it will develop a needs survey covering the 50 most vulnerable regions in the EU. By organising hundreds of activities and reaching out to 100 000 individuals and 8 networks, the project will share experiences and disseminate knowledge, overcoming barriers and obstacles associated with climate resilience.Objective REGILIENCE aims to foster the adoption and wide dissemination of regional climate resilience pathways, following a demand-driven approach and bearing in mind the expertise and knowledge acquired, as well as the solutions available from Innovation Packages and other sources. It will implement the LC-GD-1-3-2020 RIA project results on the Innovation Packages. REGILIENCE will provide coordination by developing a needs survey covering the 50 most vulnerable regions in the EU, which will be shared and matched with Innovation Package projects, 2 citizen surveys and the development of an indicator set for regional resilience, including its testing. We will furthermore review and foster synergies of 30 online platforms to improve their performance and usability for regions and communities. In terms of support, REGILIENCE will provide wide dissemination of the solutions and approaches within networks, regional authorities and key stakeholders, including civil society organisations and citizens. Overall, we plan for almost 700 specific activities with an estimated audience of 100,000 individuals, including 8 large network events, 52 workshops/webinars, 30 twinning, 300 helpdesk, 10 testing, and 40 media activities, amongst others. These aim to share experiences, learn from failure, provide guidance and disseminate knowledge and tools which will be developed by REGILIENCE, such as the Resilience Fundamentals Course, a citizen Resilience Scan Tool, information about resilience funding and financing, including recommendations for the inclusion of climate resilience in the national and regional plans for the EU Recovery Package and the Multiannual Finance Framework, on overcoming barriers and obstacles, maladaptation and the running of 10 tests for innovative public-private partnership approaches. Complementary to wide dissemination, we plan to facilitate the replication of Innovation Packages in 10 additional vulnerable and low-capacity regions.

Recycling of multilayer plastic packaging materials For the packaging sector, multilayer plastic structures offer many advantages, such as thermal stability to barrier properties that help preserve foodstuffs. They are also more efficient in transport due to the lower weight of the plastic. However, despite the benefits, they are an environmental concern. Multilayer packaging materials cannot be recycled using traditional plastic recycling technologies. In this context, the EU-funded MERLIN project will offer innovative solutions to increase the quality and rate of recycled plastic materials coming from multilayer packaging waste. These solutions include the use of optical sensors and artificial intelligence for sorting and solvent-based processes for delamination. The project is in line with the EU’s goal for all plastic packaging to be recyclable or reusable by 2030.Objective The high-performance requirements requested by the industry and consumers are responsible that currently 17% of total plastic packaging is multilayer material , meaning 3.03 Mt of plastics. Difficulties for recycling it are accentuated, being mostly landfilled or incinerated. MERLIN project has joined a partnership between sorting technology providers, recyclers, research centers, social innovation experts and end-users to design cradle to cradle solutions. This 36-month research project will offer innovative solutions for all the processes required to increase the quality and rate of recycled plastic materials coming from multi-layer packaging waste: (i) SORTING (combining optical sensors, Artificial Intelligence (A.I.) and robotics), (ii) DELAMINATION (optimizing depolymerisation and using solvent-based processes), (iii) RECYLING (techniques for repolymerization and upcycling of polymers) and (iv) VALIDATION (developing rigid and flexible packaging solutions and demonstrating circularity of the processes). These solutions will be developed and later validated in a real environment to reach technology readiness level (TRL) 6. This will be complemented with additional techniques and tools for circularity design to increase knowledge and effectiveness in the closure of the European multilayer plastic chain. Finally, transversal activities related to regulation and standardization, safety, sustainability, business, training, dissemination and communication will support to maximize the impact and effectiveness of the project. These actions are aligned with the ones proposed by the European Plastic Strategy to achieve that by 2030 all plastic packaging should be designed to be recyclable or reusable and decrease the quantity of waste generatedPotential annual carbon footprint saving that could be achieved recycling all the multilayer waste in Europe could reach 7.42 Mt CO2/year, with a potential economic of €10,605 million and more 106,000 new job positions.

Spider venom as an environmentally friendly pesticide The EU-funded SpecSpiderVenom project will study spider venom from the organismal to the molecular level using behavioural experiments, venom potency bioassays and proteo-transcriptomics to discover new bioactive compounds with potential industrial applications. The venom composition of selected prey-specialised species will be investigated to identify toxins with high efficiency. Information on the venom properties will be placed within an ecological context to shed more light on the evolution of venomic adaptations in specialised predators. Toxins of prey-specialised predators may be potentially useful as novel active ingredients of biopesticides due to their high specificity. Therefore, the project will explain how the mechanisms underlying specialised venoms work, facilitating the development of environmentally safe biopesticides that target specific pests.Objective Venoms of a wide range of animals are currently under scrutiny in the search for toxins that can be utilized as new bioactive compounds with potential medical and industrial applications. Venomous predators produce complex mixtures of bioactive components in their venoms, making them ideal candidates for a thorough investigation. Predatory toxins are usually very effective against certain prey as the result of evolutionary arms races. Many venomous animals are still understudied, including spiders, one of the most diversified groups of venomous predators. Prey-specialised spiders are particularly intriguing in this respect, as they preferentially feed on one prey type only, often represented by dangerous prey, such as ants, termites or other spiders. The current evidence suggests they immobilise prey with a potent venom. The aim of this project is to explore the venomic adaptations of those spiders from organismal to a molecular level, employing diverse methods that include behavioural experiments, venom potency bioassays, and proteo-transcriptomics. I will elucidate the venom composition of selected prey-specialised species and identify toxins with high selective efficiency. I want to analyse whether 1) prey-specialised spiders rely on their effective venoms to subdue their focal prey; 2) venoms of the specialised spiders are more efficient towards focal than to alternative prey; and 3) venom specificity is due to the presence of prey-specific highly potent venom compounds. Information on the venom properties will be put into ecological context to shed more light on the evolution of venomic adaptations in specialised predators. Furthermore, toxins of prey-specialised predators may be potentially useful as novel active ingredients of bio-pesticides due to their high specificity. My project will help to understand the mechanisms by which specialised venoms work, and could help in the development of environmentally safe bio-pesticides specifically targeting pests.

An energy efficiency boost for German homeowners Germany’s energy transition hinges on the successful decarbonisation of the building stock. However, not all property owners are making energy efficiency investments. In this context, the EU funded GREEN Home project will review the finance and funding, construction and housing technology, as well as legislation and communication and process support. Its goal is to connect all stakeholders from politics, business and civil society that are related to energy-efficient renovation in German homeowner associations. To connect stakeholders, the project will establish roundtables as joint discussion forums to identify the obstacles and potentials of energy efficiency measures. The overall goal of the project is to reinforce the renovation potential and make an active contribution.Objective The basic idea of the project Green Home is to connect all relevant stakeholders from politics, business and civil society that are related to energy efficient renovation in German homeowner associations (HOAs). The project particularly sheds light on four topic areas: 1. finance and funding, 2. construction and housing technology, 3. legislation and 4. communication and process support.In order to connect the stakeholders, the project aims at establishing roundtables as joint discussion forums. Via these roundtables, the project seeks to identify obstacles and potentials of energy efficiency measures in HOAs. Additionally, the project seeks to develop and promote ready-to-use tools and instruments for the implementation and finance of energy efficiency measures. Thereby, the project will include the experience of best practice examples from other European countries as well as lessons learned from past EU projects.On that basis, the project serves the overall goal of a better implementation of energy efficiency and renewable energies in the area of homeowner associations. By supporting HOAs and property managers to systematically integrate energy efficiency measures and renewable energies into their decision-making process as well as their long-term finance planning, the project will help lift the considerable renovation potential in the fields of HOA and can make an active contribution to reaching the ambitious European Union goal of climate neutrality until 2050.

Spectral simulations of daylight for urban environments As urbanisation increases worldwide, planning policies that assure liveability and quality of life in new urban areas are required. Building professionals should consider the spectral characteristic of daylight in relation to the built environment. However, current daylight simulation workflows do not account for colour performance or associated daylight patterns. Spectral sky data are not yet readily available, and research on the impact of colour and patterns of daylight on our environmental perception is inconclusive. The EU-funded DAYCOP project will address these challenges by validating spectral sky models in existing spectral simulation platforms, defining spectral dynamics of daylight in urban environments and latitudes, and conducting user perception studies in built environments with differing regional skies.Objective Three-quarters of the global population will be urban by 2050. To ensure the liveability, sense of place, and quality of life in new expanding urban areas, urban planning policies should consider spectral characteristic of daylight and the built environment. The colours and patterns we see around us, at various scales of the urban environment (city, neighbourhood, or street), are a complex interplay between the spectral distribution of daylight and spectrally-specific reflectance of surfaces in the space. Daylight sculpts the colours and patterns of our environmental perception, giving architects, urban and city planners an effective strategy to create spatial experiences, visual impressions of character and behavioural responses. However, current daylight simulation workflows used by building professionals do not account for colour renditions nor associated patterns of daylight. Spectral sky data is not readily available. Spectral simulations (to accurately predict colour and patterns of daylight) are computationally intensive and require further research and validation. Finally, research is inconclusive on how colour and patterns of daylight influence our environmental perception. My proposal is threefold. First, validate spectral sky models in existing spectral simulation platforms for different latitudinal regions. Second, define spectral dynamics of daylight in diverse urban environments (plaster, brick, reflective facades or spaces with vegetation) and latitudes (polar, temperate or equatorial). Third, conduct user perception studies in built environments with varying regional skies. This will help formulate design guidelines that consider characteristic qualities of daylight (colour and patterns) with local preferences. At the end of the two-year fellowship, I aim to expand my publication record, research expertise and create local and international collaborations, to establish myself as an independent researcher ready for a tenure track position.

Towards a European value chain for qubits and quantum computers Computers have enabled revolutionary insight and predictions from enormous amounts of data thanks to their ability to execute in a few hours the computations it would take a person years to do — and with incredible accuracy. As data sets become exponentially larger and more complex while applications demand increasingly fast and secure processing, conventional digital computing cannot keep up. Quantum computing based on superconducting qubits could be the key to our computing future. The EU-funded MATQu project is out to validate technology options for the production of superconducting Josephson junctions exploiting industrial silicon-based process flows. This endeavour will lay the groundwork for European leadership and independence in this socioeconomically strategic application.Objective Over the past 60+ years CMOS-based digital computing has giving rise to ever-greater computational performance, „big data“-based business models and the accelerating digital transformation of modern economies. However, the ever-growing amounts of data to be handled and the increasing complexity of today’s tasks for high performance computing (HPC) are becoming unmanageable as the data handling and energy consumption of HPCs, server farms and cloud services grow to unsustainable levels. New concepts and technologies are needed. One such HPC technology is Quantum computing (QC). QC utilizes so-called quantum bits (qubits) to perform complex calculations fundamentally much faster than a conventional digital-bit computers can. First quantum computer prototypes have been created. Superconducting Josephson junctions (SJJs) have been shown to be extremely promising qubit candidates to achieve a significant nonlinear increase of computational power with the number of qubits. For novel materials there is a great challenge yet opportunity in Europe to create a complete value chain for SSJs and QCs. Such a complete value chain will contribute to Europe’s technology sovereignty. The MATQu project aims at validating the technology options to produce SJJs on industrial 300 mm silicon-based process flows. It covers substrate technology, superconducting metals, resonators, through-wafer-via holes, 3D integration, and variability characterization. These will be assessed with respect to integration practices of qubits. Core substrate and process technologies with high quality factors, improved material deposition on large-substrates, and increased critical temperature for superconducting operation, will be developed and validated. The MATQu partners complement each other in an optimal way across the value chain to create a substantial competitive advantage, e.g. faster time-to-market and roll-out of technologies and materials for better Josephson junctions for quantum computing.

AI-augmented framework to automate the continuous development of cyber-physical systems Artificial intelligence (AI) technologies and AI-augmented automation support can be used to improve the continuous development of cyber-physical systems (CPSs). However, despite considerable interest in AI technology, few resources are being allocated for their improvement. Thus, the EU-funded AIDOaRt project aims to efficiently support requirements, monitoring, modelling, coding, and testing activities during the CPS development process. The project proposes the use of model-driven engineering (MDE) principles and techniques to provide a model-based framework offering proper methods and related tooling. The global AIDOaRT infrastructure will work with existing data sources, including traditional IT monitoring, log events, applications and more.Objective The project idea is focusing on AI-augmented automation supporting modeling, coding, testing, and monitoring as part of a continuous development in Cyber-Physical Systems (CPSs). The growing complexity of CPS poses several challenges throughout all software development and analysis phases, but also during their usage and maintenance.Many leading companies have started envisaging the automation of tomorrow to be brought about by Artificial Intelligence (AI) tech. While the number of companies that invest significant resources in software development is constantly increasing, the use of AI in the development and design techniques is still immature. The project targets the development of a model-based framework to support teams during the automated continuous development of CPSs by means of integrated AI-augmented solutions. The overall AIDOaRT infrastructure will work with existing data sources, including traditional IT monitoring, log events, along with software models and measurements. The infrastructure is intended to operate within the DevOps process combining software development and information technology (IT) operations. Moreover, AI technological innovations have to ensure that systems are designed responsibly and contribute to our trust in their behaviour (i.e. requiring both accountability and explainability).AIDOaRT aims to impact organizations where continuous deployment and operations management are standard operating procedures. DevOps teams may use the AIDOaRT framework to analyze event streams in real-time and historical data, extract meaningful insights from events for continuous improvement, drive faster deployments and better collaboration, and reduce downtime with proactive detection.

Walking on circular flooring solutions The flooring industry faces several challenges in its transition towards circularity: complex value chain, lack of knowledge exchange along the entire value chain, different national legislation and habits, numerous product types with various raw materials and additives, lifetime varying from a couple of days in the case of event carpets to up to 20 years for comercial flooring. The European Floor Coverings Association (EuFCA) and other participants in the industry – from research institutes, recycling companies and public authorities – have teamed up to create a framework for circular floor coverings to minimise the sector’s environmental impact. Under the EU-funded CISUFLO project, circular solutions will be found. The project includes six pilots focusing on manufacturing, sorting, separating, and recycling laminates, resilient floor coverings and carpets.Objective CISUFLO aims to set up a systemic framework for circular and sustainable floor coverings (carpets, resilient floor coverings and laminates) and minimise the sector’s total environmental impact. Several challenges exist within flooring to make the transition to a circular economy: (i) complex value chain, varying from country to country; (ii) link to various sectors (construction & building, plastics, textiles & wood); (iii) products cover various raw materials, plus numerous additives; (iv) product lifetimes range from over 20 years (commercial flooring) to 3-4 days (event carpet).CISUFLO provides systemic innovations at the technical, information and socio-economic level and performs 6 pilots to demonstrate their feasibility and value (future flooring, sorting, separation, laminate, vinyl and textile flooring recycling). The basis for circularity is realising circular material streams. Therefore, we focus on the main flooring material streams: wood (laminates), PA (carpets) and PVC (resilient).We aim to realise circularisation via innovations that deliver value along the chain: (i) manufacturing flooring that is easier to remove, re-use, repair & recycle, as a competitive advantage to the manufacturer, and beneficial to several players along the value chain; (ii) integrated product information system enables sorting, but also offers extra functionalities for installation, cleaning and maintenance, and sustainability info for customer at purchasing phase.To engage a broader range of stakeholders and ensure uptake beyond the project we have established a Transition Support Group (TSG) with over 30 members covering technology providers, retailers and collectors.Assuming our impact reaches 30% of the market, CISUFLO will help to shift a turnover of ca. 5 billion to the circular economy, which will significantly help to secure ca 12.000 jobs in the sector and create additionally ca 2500 jobs in collection and recycling.

OBJECTIVE To support Türkiye energy transition through the expansion of solar photovoltaic installed capacity. DESCRIPTION The Project comprises the development, construction, and operation of a solar photovoltaic (PV) plant with 100 MW of installed capacity (134MWp) in the municipality of Erzin, in the province of Hatay. The Sponsor of the Project is IC Içtas Group (the Group), a Turkish conglomerate founded in 1969. The Group owns and operates 1,450 MW of installed capacity, mainly thermal and hydropower plants, and distributes approx. 6.57 billion kWh per annum of electricity. The Project was awarded to IC İçtaş Enerji in June 2022 through the YEKA GES-4 reverse auction under a license period of 30 years. The auction allocated 700 MW of capacity across 12 solar PV projects under a ceiling price of up to TRYkr 95/kWh. The Project secured an inflation and foreign exchange (FX)-linked tariff of TRYkr 58.4/kWh (the Tariff) whereas tariff bids ranged between TRYkr 49-59.7 /kWh. The Project is entitled to sell up to 23 GWh per MW of capacity installed at the Tariff. The Project agreements were signed between IC İçtaş Enerji and the Ministry of Energy and Natural Resources (MENR) in August 2022.

OBJECTIVE To help the Government of Bangladesh (GoB) implement critical structural reforms to mainstream climate change adaptation and mitigation actions for a sustainable, resilient and inclusive growth. DESCRIPTION The proposed Program will support the GoB undertake key policy reforms to mainstream climate adaptation, mitigation, and disaster resilience in critical sectors and unlock climate investments in Bangladesh. The Program supports implementation of the GoB-led national climate objectives as articulated in the National Adaptation Plan (NAP), 2023–2050 and the Nationally Determined Contributions 2021 update (NDC-U) by strengthening the intergovernmental policy and institutional framework, mobilizing climate finance, and mainstreaming gender equality and social inclusion (GESI). The Program will include three policy Reform Areas (RAs): (i) enabling environment for climate change actions; (ii) reinforcing climate change adaptation actions; and (iii) accelerating climate change mitigation actions to address some of the critical binding constraints.

OBJECTIVE Mobilize private capital to support the development of India’s private equity and venture capital markets, with an emphasis on emerging, new fund managers investing in sustainable infrastructure projects. DESCRIPTION The National Investment and Infrastructure Fund Limited (NIIF), a quasi-sovereign investment manager backed by the Government of India (GoI), is launching a second Private Markets Fund (PMF II), targeting USD 1.0 billion to invest in infrastructure assets supporting India’s environmental, social and economic priorities. Focused sectors include renewable energy, electric vehicle (EV) infrastructure, waste management, urban and social infrastructure, technology, and financing and manufacturing activities targeting these sectors and related supply chains. NIIF will continue the strategy of its first private markets fund (PMF I) by leveraging its on-the-ground presence and market intelligence in India. AIIB anchored PMF I (Board approved in 2018) and has been working closely with NIIF in the monitoring of the Bank’s investments. NIIF has demonstrated professional approach and skills in both investment and management of portfolio funds.

OBJECTIVE To increase delivery, reliability, and efficiency of power supply in selected areas of Chattogram and Sylhet Divisions in Bangladesh. DESCRIPTION Bangladesh Rural Electrification Board (BREB), one of the major state-owned entities in the energy sector in Bangladesh, is responsible for extending electricity distribution services to the rural areas of the country. The entity, through its 80 “Palli Bidyut Samities” (PBSs) (i.e., rural electricity clusters) organized under eight divisions, collectively serves more than 77 percent of the country’s electricity consumers. Out of 80 PBSs, Chattogram and Sylhet divisions have 19 PBSs that provide services to around 9.2 million consumers (including industrial and commercial users). These two divisions have developed socio-economically at an accelerated pace in the last 15 years. The Government of Bangladesh’s (GoB) has targeted developing 25 Economic Zones (EZs) and other mega infrastructure in the Chattogram division and expanding industrial opportunities in the Sylhet division. BREB anticipates an increase in consumer demand for reliable electricity supply in these two divisions. In order to (i) cater to the expected additional demand, (ii) decongest the network, and (iii) reduce the distribution losses, BREB has initiated this project to increase the capacity and modernize the distribution network. The following activities are planned in the project scope: Installation and augmentation of approximately 135 nos. of 33/11 kilovolt (kV) substations (2,062 megavolt-amperes (MVA)); Construction and modernization of around 30,000 kilometers (km) of 33/11 kV distribution lines; and Installation of River-crossing Towers, Switching Stations, Supervisory Control and Data Acquisition (SCADA) System, and Fault Locators

OBJECTIVE The objective of the Project is to promote clean energy generation in Thailand through the development of a portfolio of solar photovoltaic (PV) power plants and the installation of battery energy storage systems (BESS). DESCRIPTION The Project involves the development, construction, and operation of eight solar PV power plants with a total capacity of 393-megawatt (MW) and four solar PV power plants with a total capacity of 256 MW integrated with BESS.

OBJECTIVE The Project objective is to increase access to sustainable and clean energy in the Republic of Rwanda. DESCRIPTION The Project will increase access of households and businesses to less carbon intensive and lower greenhouse gas (GHG) emitting sources of energy by increasing grid electrification and enhancing the availability of and access to clean cooking solutions. The Project comprises: (i) provision of grid-based electricity connections through grid densification in areas already covered by the grid and through grid extension to new areas; (ii) provision of off-grid electricity solutions; and (iii) provision of clean cooking solutions. Specifically, the Project scope involves: 1. Provision of 420,000 grid connections including related backbone infrastructure. 2. Upgrade of four 110/30kV and two 110/15kV transformers in five existing substations; construction of one 110/30kV substation, two 20 megavolt-amperes (MVA) transformers and one 110kV transmission line (21km); construction of one 220kV transmission line (56km); construction of four 30/15kV, 5MVA substations and associated medium voltage (MV) feeder lines; construction of three MV switching cabins; and extension and/or upgrade of 160km of MV lines and rehabilitation of low voltage (LV) lines in Kigali City, Southern Province and Western Province, to reinforce the transmission and distribution system and increase system efficiency and reliability. 3. Provision of at least 50,000 solar home systems (SHS), 80,000 household clean cooking technologies and 60 institutional clean cooking solutions. The Project will be jointly co-financed with the World Bank (WB) as the lead cofinancer.

DescriptionThe proposed project will jumpstart a long-term transition towards a zero tailpipe-emission transport sector in the Kyrgyz Republic. It will comprise four interlinked outputs: (i) zero-emission tailpipe bus fleet in Bishkek municipality upgraded; (ii) bus depot infrastructure upgraded; (iii) pilot green mobility corridor established; and (iv) Bishkek bus operation sustainability improved. The project is economically justified by the reduced need for fossil fuel imports, vehicle operating cost savings, better air quality, and reduced carbon emissions, which will promote energy security, improve public health, and contribute to climate change mitigation. The project will also make Bishkek more livable and foster gender equity.ImpactTransition to environmentally friendly modes of transport promoted.

DescriptionThe project will (i) strengthen the institutional capacity of the Philippine Competition Commission (PCC) to foster competition, (ii) establish a cross-government staff development program for competition policy, and (iii) ensure the sustainability of the reforms by establishing an academic center of excellence in competition policy and law.ImpactMarket competition enhanced

DescriptionThe TA subproject 1 will have the following outcome: capacities of selected DMCs to implement NDCs enhanced. The TA subproject will directly support output 1 of the overall TA cluster, supporting the implementation of NDCs for selected DMCs. The TA subproject will deliver on the following outputs: (i) DMC knowledge and skills on climate investment planning in line with nationally determined contributions strengthened; and (ii) priority climate projects in line with nationally determined contributions identified.ImpactLow carbon development and climate resilience in Asia and the Pacific enhanced (Climate Change Operational Framework 2017-2030).

DescriptionThe TA facility is estimated to cost $1,100,000, of which $1,000,000 will be financed on a grant basis by ADB's Technical Assistance Special Fund (TASF-other sources). The proposed transaction technical assistance facility (TA) will help the executing agencies and implementing agencies meet government and ADB financing requirements by supporting project preparation, increasing project readiness, building capacity in project implementation and overall portfolio management. The TA will support the following ensuing projects and provide initial implementation support after project approval to ensure smooth project implementation.(i)Uttarakhand Transmission Strengthening and Distribution Improvement Project(ii)Meghalaya Power Distribution Sector Improvement Project(iii)Tripura Generation Upgrading and Distribution Strengthening Project(iv)Other projects to be proposed by the Department of Economic Affairs (DEA), Ministry of Finance for ADB Financing.

DescriptionThe knowledge and support technical assistance (TA) will help Armenia establish its National Spatial Data Infrastructure (NSDI) through research and development and capacity building. The TA will develop foundational national geospatial data standards and a national integrated multifunctional geoportal to empower effective land management in Armenia, thus enabling economic activities while also enhancing its e-government capacity, as per goals in the Programme of the Government of the Republic of Armenia.The TA is aligned with the following impact: effective land management empowered. The TA will have the following outcome: e-governance systems established for land-use planning and management and public services delivery. It will have the following outputs: (i) national geospatial data standards developed; (ii) national geoportal for spatial data management developed; and (iii) standardized custom cartographic layers developed and migrated into the geoportal for one administrative division of Armenia government capacity strengthened.ImpactEffective land management empowered

DescriptionThe TA will strengthen the capacity of the Government of Thailand to integrate its new bio-circular-green (BCG) economy model into national development strategies. The TA will provide an integrated approach to capacity, policy, and investment pipeline strengthening, with activities including (i) BCG awareness building workshops; (ii) advisory support to strengthen BCG related policy and a regulatory frameworks; and (iii) technical support to develop sector specific innovative finance BCG concepts that can mobilize green finance from public and private sources such as commercial banks and capital markets. The TA will share lessons and experiences regionally to spur further replication of such concepts.The TA is aligned with the Asian Development Bank (ADB) country partnership strategy for Thailand, 2021-2025, specifically objective 2 to support resilience and sustainability. It will focus on areas where ADB can add the most value, such as regional public goods, regional cooperation, climate change, urbanization, and gender and social inclusion issues. The TA is aligned with ADB's strategy 2030 and will support operational priority 1, addressing remaining poverty and reducing inequalities; operational priority 2, accelerating progress in gender equality; and operational priority 3, tackling climate change, building climate and disaster resilience and enhancing environmental sustainability. The TA incorporates lessons learned from previous ADB assistance to Thailand, such as the importance of providing value-added knowledge and innovative finance to address complex development challenges that Thailand cannot resolve on its own.ImpactCapacity of the Government of Thailand strengthened to integrate the new BCG economy model into national development strategies (13th National Economic and Social Development Plan, 20232027)

DescriptionThe knowledge and support technical assistance (TA) will promote an enabling environment for inclusive, diversified, and sustainable economic growth in Mongolia. Achieving more diversified and resilient growth is a core priority of the Government of Mongolia and is reflected in Mongolia's Vision 2050. The TA will focus on supporting reforms and institutional development in three interrelated areas: (i) public resource management, (ii) finance sector development and performance, and (iii) private sector development.ImpactInclusive, diversified, and sustainable growth achievedPublic debt management, financial sector inclusiveness and diversification, and business investment environment improved

DescriptionThe transaction technical assistance (TA) will help the government prepare the project, design the reform program, and develop the capacity of executing and implementing agencies to implement the ensuing Macroeconomic Resilience and Social Protection Program.

DescriptionThe TA will finance the completion of the following outputs: i) the biannual Client Perceptions Survey 2024 and 2026; ii) a Climate Change Knowledge, Attitudes, and Practices survey across developing member countries in 2025; and iii) an Audience Mapping Research.ImpactDMCs more efficiently and effectively served by ADB to meet their development needs, especially those related to climate change.

DescriptionBuilding coastal resilience in Asia-Pacific is an urgent priority. It requires adopting long-term and integrated planning approaches that favor adaptive management, a risk-based approach, inclusive processes, and consider the full spectrum of coastal resilience options. Given their potential benefits, nature-based solutions should be considered as part of integrated plans combining grey and green solutions and soft measures such as awareness raising, policy making, land use planning and early warning. The TA will support DMCs based on demand and potential impact and will explore linkages with other ADB programs. Consideration will also be given to potential for knowledge-sharing and scaling-up of TA activities across the region. Output 1: Strategic plans, policies and programs to build coastal resilience prepared. Output 1 will support the (i) development of long-term integrated plans for building coastal resilience through integrated and sustainable solutions, such as coastline management plans or adaptation plans following a pathway approach, strengthening multi-level governance arrangements, following participative processes when possible, prioritizing plans with regional benefits, and integrating with larger strategies for maximum impact; (ii) identification of necessary policies and investments to enhance coastal resilience and sustainably manage coastal ecosystems, including the development of sustainable coastal livelihood and economic development programs, with special attention to vulnerable groups and women's empowerment.Output 2: Nature-based and integrated coastal resilience investments supported. The TA will provide specialist support, based on demand from operations departments and DMCs, to identify, prepare and accelerate interventions to boost coastal resilience, prioritizing activities that achieve multiple resilience benefits and those with regional benefits, and promoting multi-functional design and long-term sustainability. The scope of specialists' inputs will focus on (i) nature-based, soft and hybrid solutions; and (ii) economic development opportunities and livelihoods for coastal communities. Such inputs could include (i) assessments to inform ADB's country partnership strategy and country operation business plans; (ii) supporting the preparation of concept papers; and (iii) providing inputs to improve project design and implementation.Output 3: Knowledge, regional cooperation, and financing for building coastal resilience improved. The TA will develop knowledge products to advance coastal resilience solutions know-how, the use of nature-based approaches, and the role and value of coastal ecosystems including its economic dimension and maintenance. The TA will encourage regional cooperation on coastal and marine ecosystems as regional public goods. For this purpose, the TA will work with regional programs, and specifically with the Brunei Darussalam-Indonesia -Malaysia-Philippines East Association of Southeast Asian Nations Growth Area, and other cooperative platforms such as the South Asia Cooperative Environment Program and the Atoll Dialogue, to strengthen regional knowledge sharing, replicate successful approaches and foster the dialogue among participating DMCs on how to scale up successful initiatives to regional levels, encouraging a more regional approach to dealing with coastal ecosystems. Cross-country study visits, regional knowledge-sharing workshops and dialogue events will be organized for this purpose in collaboration with regional cooperation programs. The TA will also support the development of innovative ocean financing mechanisms (e.g. a coral reef insurance initiative) and the mobilization of additional funding.ImpactResilience of coastal communities, cities, infrastructure and ecosystems enhanced.

DescriptionSpanning more than 165,000 square kilometers, the RK covers the entire northwestern extremity of Uzbekistan. It has a dispersed population of about 1.8 million, and its primary economic drivers are agriculture, natural gas, and minerals. The RK's natural environment is primarily arid desert comprising sparse, barren lands that are subject to severe drought. As such, the RK suffers from acute surface water shortage. Although aquifers exist, the groundwater is mostly saline and of limited value, as it is prohibitively expensive to treat for human consumption. Water supply conditions are therefore critical.Municipal water supply services in the RK are provided by a regional WSS utility, the State Unitary Enterprise Department for Operation of Interregional Water Supply Tuyamuyun-Nukus (TN). Although operational, TN faces considerable challenges as most of its Soviet-era infrastructure has depreciated to the point of dilapidation. Its services are unreliable, leakage losses are high, and water quality is a growing concern. These deficiencies prevent TN from delivering services that meet regulator and public expectations, which in turn undermines consumer confidence and willingness to pay, increases regulator reluctance to raise tariffs, and reduces financial and institutional performance. As with similar utilities in Uzbekistan, has become locked in a vicious cycle that requires external intervention to modernize and expand its asset base while overhauling its institutional capacity.TN's service deficiencies relate directly to poor WSS sector performance. In the RK, only 36.6% of the population in Karakalpakstan12.9% in rural areasis connected to the centralized water supply system. Recent surveys indicate that 40% of households receive water for less than 6 hours per week and that water pressures are often low. About 75% of households reportedly experience excessive water salinity and hardness issues. Correlations are also frequently drawn between poor water quality and waterborne disease incidence. The substantial consumer base that is yet to be connected to a centralized water supply is forced to purchase water from trucked supplies at exorbitant prices or consume water that is increasingly polluted. The government fully recognized the sector constraints and, with support from the Asian Development Bank (ADB) and other development partners, has responded by implementing a phased, nationwide institutional consolidation and sector-wide management, financial, and cost recovery reform program. The initial phase, driven largely by the Decree of the Cabinet of Ministers No. 306, has led to the consolidation of Karakalpakstan's WSS services into TN and the implementation of more than 40 time-bound corporate governance improvements to strengthen utility capacity. The second phase is overhauling the wider institutional framework by creating the Ministry of Housing and Communal Services (MHCS). The Agency Kommunhizmat (CSA), reporting to the MHCS, is responsible for implementing externally funded projects including those funded by ADB. The project supports the government's WSS reform program by helping improve TN's institutional capacity while revitalizing its regional water supply system. It will benefit 388,000 inhabitants in six districts and 116 rural settlements by providing reliable and safe water supply through universal metered household connections. It is consistent with ADB's Water Operational Plan, 20112020 and country operations business plan, 20182020 for Uzbekistan. Lessons to be incorporated in the project design include (i) securing timely counterpart support by engaging government agencies at the early stage of project preparation, (ii) improving project quality and efficiency by adopting least-cost solutions in project design, (iii) providing training and capacity building of project implementation personnel to reduce procurement and construction delay, and (iv) accelerating domestic approval procedures by engaging design institutes during project preparation.ImpactClimate resilience, health, and living conditions in the Republic of Karakalpakstan improved

Technical assistance reportpublic project number: 56262 -001 transaction technical assistance facility f-trta december 2022 preparing projects to enhance transport connectivity and resilience in the pacific phase 2 this document is being disclosed to the public in accordance with adb's access to information policy. abbreviations adb - asian development bank dmc - developing member country ta - technical assistance note in this report, refers to united states dollars , unless otherwise stated. vice-president ahmed m. saeed, operations 2 director general leah c. gutierrez, pacific department pard deputy director general emma m. veve, pard director dong kyu lee, transport and communications division patc, pard team leader juan gonzalez, transport specialist, patc, pard team member maila conchita m. abao, project officer, patc, pard sarah colacci, senior procurement specialist, procurement division 2, procurement, portfolio, and financial management department joanna custoias, counsel, office of the general counsel michelle dooley; senior safeguards specialist; portfolio, results, and quality control unit paod-prq; pard syed hussain haider, principal transport specialist, patc, pard ari kalliokoski, principal transport specialist, patc, pard tomoaki kawabata, senior transport specialist, patc, pard kathleen mae raro, operations assistant, patc, pard cha-sang shim, senior transport specialist , patc, pard jean williams, principal environment specialist, paod-prq, parda a outposted to the pacific subregional office in suva, fiji. in preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the asian development bank does not intend to make any judgments as to the legal or other statu s of any territory or area. contents page transaction technical assistance at a glance i. the technical assistance facility 1 a. justification 1 b. outputs and activities 3 c. cost and financing 4 d. implementation arrangements 4 e. governance 5 ii. the president's decision 5 appendixes 1. design and monitoring framework 6 2. cost estimates and financing plan 7 3. projects under technical assistance facility 8 4. list of linked documents 10 project classification information status : completetransaction technical assistance at a glancesource: asian development bankthis document must only be generated in eops.23092022085934869511generated date: 19-oct-2022 11:14:42 am1.basic data project number: 56262-001project name preparing projects to enhance transport connectivity and resilience in the pacific , phase 2departmentdivision pardpatcnature of activity project preparation, capacity developmentexecuting agency asian development bankmodality facilitycountry reg coo, fij, fsm, kir, nau, niu,pal, png, rmi, sam, sol, ton, tuv, van2.sector subsectors adb financing milliontransport air transport 0.500multimodal logistics 1.500transport policies and institutional development 0.750water transport non-urban 2.250total 5.qq3.operational priorities climate change informationop1: addressing remaining poverty and reducing inequalitiesop3: tackling climate change, building climate and disaster resilience, and enhancing environmental sustainabilityop6: strengthening governance and institutional capacityop7: fostering regional cooperation and integrationghg reductions tons per annum 0climate change impact on the project lowadb financingadaptation million 0.350mitigation million 0.150cofinancingadaptation million 0.mitigation million 0.sustainable development goals gender equity and mainstreamingsdg 1.4, 1.5sdg 5.csdg 9.1, 9.4sdg 10.3sdg 13.aeffective gender mainstreaming egmpoverty targetinggeographic targeting4.risk categorization low qq5.safeguard categorization safeguard policy statement does not applyqq6.financingmodality and sources amount millionadb 5. transaction technical assistance: technical assistance special fund 5.cofinancing 0. none 0.counterpart 0. none 0.total 5. currency of adb financing: us dollar q i. the technical assistance facility a. justification 1. the transaction technical assistance ta facility will provide project preparation support to a series of ensuing projects in the transport sector that will improve land, maritime, and air transport connectivity in the pacific. the projects that will be suppor ted are: i the bridge replacement project in fiji, ii the second tranche of the land and maritime connectivity project in solomon islands, the outer island maritime project in vanuatu , iv the rarotonga airport infrastructure upgrade project in the cook islands, and v the sustainable road inf rastructure investment project in the federated states of micronesia. the ta will provi de specific support in preparing the project due diligence, complementing ongoing project preparatory activities. 2. the ta facility will also provide capacity building and on-the-ground support to various ongoing projects, including i strengthening domestic shipping project in tuvalu, and ii vanuatu interisland shipping support project additional financing.1 these ongoing projects suffer from weak project implementation capacity and need continuous support, especi ally in procurement, project and contract management. this support cannot be included for f inancing under the ongoing projects, given the ir limited remaining funds. 3. in addition, the ta facility will support the following activities : i prepare a study to improve maritime connectivity in niue; and ii prepare a policy paper on regional transport sustainable and innovative approaches. the ta is consistent with the asian development b ank's adb pacific approach, 2021 -2025, which emphasizes transport development and regional connectivity, and the application of context-specific differentiated approaches in capaci ty building.2 4. adb's pacific developing member countries dmcs are dispersed across 30 million square kilometers of ocean -or one- third of the earth's surface- while their combined landmass represents less than 2 of this total. the pacific dmcs, with the excep tion of papua new guinea, can be characterized as small, remote, and fragmented island groups with limit ed resource bases, fairly undiversified economies, and dependent on imports. pacific dmcs face severe constraints caused by geography, infrastructure, climate change impacts and increasingly frequent occurrences of disasters triggered by natural hazards. 5. the small size, isolation, and high exposure to natural hazards contribute to high climate and disaster risk in pacific dmcs . seven of these dmcs are classified as fragile, and all countries in the region exhibit multiple vulnerabilities.3 these characteristics impede integration with regional and global markets and economic development. a safer, more efficient, and rel iable transport that connect s people with essential goods, services, and opportunities - such as food, education, health care, and jobs - improves the quality of life. 6. pacific dmcs need assistance to enhance transport connectivity and the resilience of their transport through i maritime links between regions, countries and populations; ii airports and runways to link countries and communities; and road infrastructure and services to connect communities to key resources and economic opportunities. 1 adb. 2022. tuvalu: strengthening domestic shipping project . manila; and adb. 2015 . vanuatu: interisland shipping support project additional financing . manila. 2 adb. 2021. pacific approach , 2021 -2025 . manila. 3 adb. 2022. fragile and conflict-affected situations and small island developi ng states approach . manila. 2 7. the ta will provide i support to identif y and prepare ensuing projects and provide capacity building support for ongoing projects; ii prepare a planning paper for the enhancement of maritime connectivity of niue; and prepare a policy paper on regi onal transport exploring innovative and sustainable approaches. 8. support to ensuing and ongoing projects . the ta will specifically support areas of project due diligence, such as the economic and financial analyses, procurement assessments and support, climate change assessment, gender analysis, social and environmental safegua rds, etc. all ensuing projects are aligned with the operational priorities of adb's strategy 2030 of fostering regional cooperation and integration, by improving transport infrastructure in main transport gateways airports, ports; building climate and disaster resilience by designing and constructing resilient transport infrastructure; and promoting rural developm ent by connecting rural populations to the resources they need.4 the ensuing projects will all have an indicative proposed gender category of effective gender mainstreaming. 9. enhancement of maritime connectivity of niue . the island country of niue is an isolated raised coral atoll, measuring 20 k ilometers in diameter, located 2,400 kilometers northeast of new zealand in the south pacific. the vast majority of supplies are imported by a single, four-weekly container vessel from auckland, while some fresh and urgent supplies are flown through the twice-weekly air service also from auckland. the main maritime sector asset in niue is sir robert's wharf, locate d in alofi the alofi wharf. the alofi wharf was constructed in the 1930s and has undergone several repairs and extensions, the most recent being in 2005. 10. some parts of the wharf are in poor condition and the wharf is also regul arly overtopped by waves. this makes the structure and operations vulnerable to weather, disasters triggered by natural hazards, and climate change. on the land side, there is insufficient yard area available resulting in yard congestion, and containers often have to be handled and stacked alongside public roads. the improvement of the alofi wharf is a priority for the governm ent of niue. in 2017, the government endorsed the national transport strategy prepared by the pacif ic region infrastructure facility, which identified areas for improvement across all transport sectors, including upgrades for the alofi wharf. several potential investment options with high -level cost estimates were identified as part of the prefeasibility study on developing alofi wharf conducted under an adb ta.5 11. the government of niue has requested adb's support to prepare a planning and knowledge study to improve the ir maritime connectivity, considering technical, operational, environmental, social, economic, financial, and funding aspects with the final aim of enhancing transport connectivity and the resilience of maritime transport in the country. thi s activity is not directly related to the ensuing or ongoing adb-assisted project, but is in line wit h the overall theme or sector of the transaction ta. 12. regional transport innovative and sustainable approaches . the transport sector is responsible for several environmental impacts, including contributions to cli mate change through greenhouse gas emissions and depletion of natural resources. a framework that enabl es and incentivizes circular product systems is key for decarbonization, a model that is more responsi ble towards low carbon sustainable development. reducing resource extraction, lowering its 4 adb. 2018. strategy 2030: achieving a prosperous, inclusive, resilient, an d sustainable asia and the pacific . manila. 5 adb. 2014. technical assistance for trade and transport facilitation in th e pacific . manila. 3 consumption, and relying on imported fossil fuel by making the global economy mor e circular could significantly contribute to the goals of the paris agreement. 13. the ta will support preparation of a policy paper to explore innovative and sustainable approaches to meet transport sector needs in the land and maritime subsectors i n pacific dmcs. market research will be conducted to identify suitable low carbon technologies in the t ransport sector and their application in similar geographical conditions. a r oadmap of investments list of potential projects will be prepared to be potentially implemented in the short- and medium-term time horizon of 10 years. these investments will target maritime and roa d transport solutions for low or zero carbon transport solutions and alternatives. in this regard, the ta will complement other regional technical activities by adb that use futures-thinking and foresight too ls to develop pathways for post-pandemic recovery in pacific.6 these technical activities derive visions to inform infrastructure investment decisions in the long term time horizon of mor e than 10 years. 14. the ta facility modality and expanded transaction ta approach will enable more efficient ta management and greater flexibility in the range of solutions and support offered t o pacific dmcs under a single regional facility. for the knowledge and support ta-type activities, no other ongoing knowledge and support ta can be tapped for these activities. this ta is a cont inuation of ta 9986 -reg: preparing transport projects to enhance transport connectivity and resilien ce in the pacific.7 that ta supported the preparation of projects such as the suva port - strategic review of development options in fiji, the rarotonga airport infrastructure u pgrade project in cook islands, and the kiribati outer islands transport infrastructure investment project phase 2.8 previously, ta 9331-reg: strengthening domestic connectivity in the pacific also support ed the preparation of transport projects.9 ta 9331 -reg was financially closed on 1 august 2022 , and the main lesson learned is that having a pool of consultants with experti se in the different areas of project due diligence i.e., economic and financial analysis, procurement, and safeguards positive ly supported the timely processing of projects, increased the quality of due diligence reports, and facilitated the projects' readiness. b. outputs and activities 15. the major outputs and activities are summarized in table 1. table 1: summary of major outputs and activities major outputs delivery dates key activities with milestones 1. projects to enhance transport connectivity prepared and supported january 2026 1.1 technical analysis q4 2025 1.2 economic and financial due diligencea q4 2025 1.3 environmental, social, poverty and gender analysis q4 2025 1.4 stakeholder consultation q4 2025 1.5 procurement strategy and support q4 2025 1.6 capacity building q4 2025 2. planning study to improve maritime connectivity of niue prepared january 2025 2.1 demand analysis and forecast q4 2023 2.2 maritime transport sector financial review q1 2024 2.3 conditions assessment q2 2024 2.4 meteorology and climatological analysis q3 2024 6 adb. 2022. proposed technical assistance for developing low-carbon pathways for post-pandemic recovery enabled by transport connectivity in the pacific . manila. 7 adb. 2020. technical assistance for preparing transport projects to enhance transport connectivity and resilience in the pacific . manila. 8 phase 2 of the ta will support additional due diligence procurement and economic analysis which cannot be accommodated under the original ta due to funding constraints. 9 adb. 2017. technical assistance for strengthening domestic connectivity in the pa cific. manila. 4 major outputs delivery dates key activities with milestones 2.5 climate and disaster risk assessments q4 2024 2.6 initial development options q1 2025 2.7 appraisal of development options q2 2025 3. regional transport innovative and sustainable policy paper prepared january 2027 3.1 market review of innovative and sustainable technologies q1 2024 3.2 benchmark of the applications of technologies in q2 2024 3.3 assessment of feasibility of implementing these solution s in the pacific dmcs q4 2024 3.4 roadmap for the implementation of these solutions in the pac ific dmcs q4 2025 dmc = developing member country; q = quarter. a includes financial analysis, financial management assess ment, preparation of cost estimates and financing plan, as necessary depending on the project requirements. source: asian development bank estimates. c. cost and financing 16. the ta facility financing amount is 5,,0 00 which will be financed on a grant basis by adb's technical assistance special fund 4,500, from tasf-7 and 500, from tasf-others. the key expenditure items are listed in appendix 2 . the governments were informed that approval of the ta does not commit adb to finance any ensuing projects. 17. the ta uses the expanded approach. the total ta amount is broken down per output in table 2. table 2: cost breakdown per output output indicative cost percentage of ta amount output 1: projects to enhance transport connectivity prepared and supported 3,500, 70 output 2: planning study to improve maritime connectivity of niue prepared 750, 15 output 3: regional transport innovative and sustainable policy paper prepared 750, 15 total 5,, 100 ta = technical assistance. source: asian development bank estimates. d. implementation arrangements 18. the ta activities for an ensuing project will start only after adb approves the p roject concept paper for the ensuing project. adb will administer the ta facili ty. the transport and communications division, pacific department will select, supervise, and evaluate consult ants throughout the implementation of the ta to facilitate monitoring and evaluation. 19. the implementation arrangements are summarized in table 3. table 3 : implementation arrangements aspects arrangements implementation period january 2023 -january 2028 executing agency adb implementing agencies airport authority of the cook islands, cook islands department of transport, communications and infrastructure, federated sta tes of micronesia fiji roads authority, fiji 5 aspects arrangements ministry of transport, energy and tourism, tuvalu ministry of infrastructure and public utilities, vanuatu ministry of infrastructure development, solomon islands ministry of infrastructure, niue consultants to be selected and engaged by adb qcbs 90:10 planning study to improve maritime connectivity of niue 20 person-months 0.75 million qcbs 90:10 regional transport innovative and sustainable policy paper 10 person-months 0.75 million individual consultant selection 85 person-months 3.50 million disbursement the ta resources will be disbursed following adb's technical assistance disbursement handbook 2020, as amended from time to time. asset turnover or disposal arrangement upon ta completion fixed assets will be handed over to the respective government in e ach country upon ta completion. adb = asian development bank, qcbs = quality- and cost-based selection , ta = technical assistance. source: asian development bank estimates. 20. consulting services. adb will engage the consultants following the adb procurement policy 2017, as amended from time to time and its associated project administration andor staff instructions.10 the ta will require the recruitment of two consulting firms, which wi ll be selected and engaged by adb using quality- and cost-based selection 90:10. selection of consultant s commenced in october 2022 as an advance action in parallel to the ta processing. mobilization of consultants is targeted for the first quarter of 2023. 21. the ta will recruit individual consultants to identify and prepare investment p roposals in the countries covered by the ta . individual consultants, international and national, with expertise in transport project preparation and adb's due diligence, such as roads and tr affic engineering, maritime and air transport, economic and financial analysis, financial management, social and environment safeguards, or procurement will be recruited. the individuals will be sel ected using adb's individual consultant selection method . pacific department's transport and communications division has demonstrated previous experience in engaging large teams of individual consultants, including the successful management of their contracts and assignmen ts, in previous ta projects footnotes 6 and 8. consultants' i nputs and terms of reference are indicative and may be realigned to the ta's requirements. e. governance 22. since adb is the executing agency, the financial management, procurement, and integr ity risks during ta implementation are assessed to be low. however, thorough risk assessm ents for financial management, procurement, and integrity for ensuing investment projects to be implemented in the target countries will be conducted under the ta. ii. the president's decision 23. the president, acting under the authority delegated by the board, has appro ved the provision of technical assistance not exceeding the equivalent of 5,, on a grant basis f or preparing projects to enhance transport connectivity and resilience in the pacifi c phase 2 , and hereby reports this action to the board. 10 terms of reference for consultants accessible from the list of li nked documents in appendix 4. 6 appendix 1 design and monitoring framework impact the ta is aligned with land, maritime, and air transport connectivity in the pacific enhanceda results chain performance indicators data sources and reporting mechanisms risks and critical assumptions outcome by 2028project readiness improved with innovative transport solutions a. at least one project developed with a low-carbon solution 2022 baseline:0 op 3.1.5 a. final consultant's report r: urgent infrastructure needs in the pacific developing member countries delay the implementation of innovative low-carbon solutions outputs by 20272. planning study to improve maritime connectivity of niue prepared 2a. one planning study prepared 2022 baseline:0 op 7.1.2 2a. final consultant's report a: innovative low-carbon solutions are applicable and respond to the needs of the pacific developing member countries 3. regional transport innovative and sustainable policy paper prepared 3a. one policy knowledge paper prepared 2022 baseline:0 op 3.1.5 3a. final consultant's report key activities with milestones 2. planning study to improve maritime connectivity of niue prepared 2.1 consultant recruitment by adb and contract signing q2 2023 2.2 mobilization of consultant q3 2023 2.3 preparation of assessment reports q3 2024 2.4 final workshop and knowledge dissemination activities q1 2025 3. regional transport innovative and sustainable policy paper prepared 3.1 scoping activities and consultant recruitment by adb q4 2023 3.2 mobilization of consultant q1 2024 3.2 preparation of assessment and knowledge workshops q4 2026 3.4 final workshop and knowledge dissemination activities q1 2027 inputs adb: 5,, a = assumption, adb = asian development bank, op = operational priority , q = quarter, r = risk, ta = technical assistance. note: the trta is using the expanded approach. this dmf only includes the outputs and activities of the knowledge and support areas to be delivered under the trta facility. a defined by ta. contribution to strategy 2030 operational priorities: the expected values and methodological details for all op indicators to which this ta will contribute results are de tailed in contribution to strategy 2030 operational priorities accessible from th e list of linked documents in appendix 4. source: asian development bank. appendix 2 7 cost estimates and financing plan ' item amount a. asian development banka 1. consultantsb a. remuneration and per diem i. international consultants 3, ii. national consultants 315 b. out- of-pocket expenditures i. international and local travel 625 ii. reports and communications 63 . miscellaneous administration and support costsc 25 2. surveys 3. training, seminars, and conferencesd 400 157 4. goodse 5. miscellaneous t echnical assistance administration costsf 6. contingencies 15 125275 total 5, note: the technical assistance is estimated to cost 5,, , of which contributions from the asian development bank are presented in the table. a financed by the asian development bank's technical assista nce special fund tasf -7 4,500, and tasf-others 500, . b fixed or lump-sum out of pocket expenses will be conside red for administrative efficiency and a simplified disbursement process.c may include consultants' office operations and admini stration, technical staff, office 365 licenses, translation and editing costs, printing services, and other related logistica l costs. d includes participants' travel costs, honorarium and travel cost for resource persons and facilitators, dissemination activities, conference materials, conference related service providers, representation costs, as well as travel expenses of adb staff participating in workshops as resource persons a nd or speakers. representation expenses will be kept at a minimal level and will follow adb's guidelines per pai 5.09, para. 26. e computers, printers, and software for implementing agencies may be purchased if needed. f may include, among others, service providers, reports a nd communications, land transportation and vehicle hire , and other logistical support costs. source: asian development bank estimates. . 8 appendix 3 projects under technical assistance facility table a3 .1: indicative consultants' input allocation person-month item total fij: bridge replacement project low risk sol: second tranche of the land and maritime connectivity project low risk van: outer island maritime project low risk tuv: strengthening domestic shipping project low risk coo: rarotonga airport infrastructure upgrade project low risk fsm: sustainable road infrastructure investment project low risk van: interisland shipping project additional financing low risk maritime port operations specialist 16.0 8.0 0.0 2.0 2.0 0.0 0.0 4.0 maritime structure specialist 14.5 6.0 1.0 1.5 4.0 0.0 0.0 2.0 airport planner 5.0 0.0 0.0 0.0 0.0 5.0 0.0 0.0 airport terminal architect 4.0 0.0 0.0 0.0 0.0 4.0 0.0 0.0 airport pavement specialist 3.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 civil engineer 22.0 2.0 3.0 2.0 0.0 4.0 4.0 7.0 cost specialist 14.0 2.0 2.0 1.0 2.0 0.0 4.0 3.0 civil aviation specialist 3.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 road and traffic engineering specialist 11.0 3.0 0.0 1.0 3.0 0.0 2.0 2.0 transport economist 13.5 3.0 1.0 1.0 2.0 2.0 2.5 2.0 financial specialist 15.5 3.0 0.0 1.5 5.0 2.0 0.0 4.0 environment specialist 16.5 3.5 1.0 2.0 3.0 3.0 2.0 2.0 climate change and disaster specialist 5.0 0.0 0.0 0.0 0.0 3.0 1.0 1.0 marine ecologist 13.0 3.0 0.0 4.0 4.0 0.0 0.0 2.0 logistics expert 8.0 0.0 0.0 3.0 2.0 0.0 0.0 3.0 private sector specialist 2.0 0.0 0.0 2.0 0.0 0.0 0.0 0.0 procurement specialist 8.0 0.0 4.0 1.0 0.0 1.0 1.0 1.0 dispute and claims specialist 5.0 1.0 1.0 1.0 1.0 0.0 0.0 1.0 trade facilitation specialist 5.0 0.0 0.0 3.0 0.0 0.0 0.0 2.0 gender and social development specialist 9.5 2.0 1.0 1.5 1.0 1.0 1.0 2.0 source: asian development bankappendix 3 9 table a3.2: proposed projects to be supported under the facility project name developing member country project concept paper approval date second tranche of the land and maritime connectivity project solomon islands 25 may 2020 bridge replacement project fiji may 2023 rarotonga airport infrastructure upgrade project cook islands october 2023 sustainable road infrastructure investment project federated states of micronesia october 2023 outer island maritime project vanuatu october 2023 source: asian development bank. table a3.3: indicative technical assistance budget allocation ' item total fij: bridge replacement project low risk sol: second tranche of the land and maritime connectivity project low risk van: outer island maritime project low risk coo: rarotonga airport infrastructure upgrade project low risk fsm: sustainable road infrastructure investment project low risk tuv: strengthening domestic shipping project low risk van: interisland shipping project second additional financing low risk training, seminars, and conferences 157.0 40.0 20.0 20.0 15.0 12.0 40.0 10.0 surveys 400.0 150.0 30.0 75.0 25.0 95.0 0.00 25.0 source: asian development bank. table a3.4 : ongoing projects to be supported under the facility project name developing member country project approval date interisland shipping support project additional financing vanuatu 27 february 2015 strengthening domestic shipping project tuvalu 15 september 2022 source: asian development bank. 10 appendix 4 list of linked documents http:.adb.orgdocumentslinkeddocsid=56262- 001-tareport 1. terms of reference for consultants 2. contribution to strategy 2030 operational priorities 3. approved report and recommendation of the president : strengthening domestic shipping project tuvalu 4. approved report and recommendation of the president: interisland shipping support project vanuatu 5. approved report and recommendation of the president: interisland shipping support project additiional financing vanuatu

DescriptionBangladesh has achieved robust economic growth, averaging more than 6.0% since 2011 and recording 8.1% for FY2019. Such strong growth has been driven by steady expansion and surge in export-oriented manufacturing industries, such as ready-made garment, textile, leather, and food processing. The service sector is also growing, including retail, health care and tourism. Despite sustained growth during the past decade, the country faces tremendous challenge in developing a skilled, competitive workforce that can meet emerging skills needs in the local and global labor markets. The working-age population is expanding fast from 87 million in 2011 to 119 million by 2026, with 2 million potential new entrants to the labor force every year. More than half of the labor force have only primary education or less; and less than 4.0% of the working-age population (aged 1559) had received any technical or vocational training. Youth unemployment rate has risen from 4.0% in 1991 to more than 10% currently. To sustain the country's growth path and reap the benefit of demographic dividend, the country needs to invest in its human capital resources and develop a well-trained and highly-skilled workforce. Rapid technology advances are also affecting Bangladesh industries, altering the nature of jobs which demand higher levels of technical and cognitive skills while reducing demand for low-skilled jobs.

DescriptionThe program is the fourth phase of the Pacific Disaster Resilience Program, initially approved in December 2017. It will provide another round of financing for (i) countries that drew down for the coronavirus disease (COVID-19) pandemic (Kiribati, Samoa, and Solomon Islands); and (ii) Tonga, that drew down funds in February 2022 in response to the eruption of the Hunga Tonga'Hunga Ha'apai volcano. The program consists of the following reform areas: (i) policy and institutional arrangements for risk management strengthened; (ii) systems, information, and tools for risk management, including risk-informed development, strengthened; and (iii) risk financing and public financial management to address disaster impact improved. All prior actions have been completed. The total program cost is estimated at $38 million, comprising $5 million from concessional ordinary capital resources and $33 million from ADB's Special Funds resources (Asian Development Fund).