Borjomi Water Project

complete

The proposed project entails rehabilitation of the water and wastewater supply network. In addition to these capital investments, the project will install meters to customers and include a financial operational performance improvement programme for the company as well as support to the city. The EBRD is considering making a sovereign loan of EUR 1.5 million to Georgia to support the rehabilitiation of the water and wastewater supply network in the city/area. Transition impact will be: The project consists of a sovereign loan to Georgia on-lent to the Borjomi Water Company to finance the rehabilitation of the water and wastewater treatment systems. The Municipal Development Fund will work closely with the City to implement the project. Sovereign loan of up to EUR 1.5 million to Georgia to be on-lent to the Borjomi Water Company. Grant co financing is expected to come from the following sources: Millennium Challenge Corporation/Millennium Challenge Georgia (USA) and other international donors. EUR 9.3 million (including VAT). The project has been screened as B/1, requiring an environmental audit of the main assets of the Borjomi Tskalkanali Water Company and an environmental analysis of the proposed investments. Environmental due diligence should also assess the sustainability of water sources in the Borjomi Region. Following the completion of the audit and the analysis, any resulting recommendations will be formulated into a time-bound, costed environmental action plan ("EAP") which, once agreed with the Company, will be included in the legal agreements. Pre-signing: Post Loan Signing: