ESIF: Burgas Water Project

completed

Provision of EUR 17.3 million loan to Burgas Water Supply and Sanitation Company ("Burgas WSSC" or the "Company"). The proceeds of the loan, blended with OPE investment grants, will co-finance Stage 1 of a wider investment programme, targeting improvement of water supply and sanitation infrastructure in the region of Burgas. With agreement of the EC the project was split in two stages i Stage 1, factoring investments that involve construction mostly in urbanized areas or outside Natura areas (representing broadly 45% of the envisaged investments) and Stage 2, which includes investments where construction potentially could affect some of the protected areas and species and requires further investigations. The EBRD provides financing only for Stage 1, which already received the grant financing approval from the EC. Should Stage 2 of the investment be deemed eligible for grant financing by the EC at a later stage, and the Company is required to co-finance its implementation, the Bank may consider providing additional financing for its completion. The Stage 1 investments aim at rehabilitating over 76 km of water supply pipelines, revamping over 10 km and constructing over 42 km of wastewater collection infrastructure, as well as constructing and recuperating over 5,000 cub.m. tanks and reservoirs.