MEI SEMED Sustainable Investment Framework

cancelled

Translated version of this PSD: Arabic The EBRD is considering a EUR 45 million debt and equity Framework for projects focusing on energy, water and resource efficiency, waste reduction, resource recovery and recycling, use of clean technologies, promotion of renewable resources in the municipal and environmental infrastructure sector in the Southern and Eastern Mediterranean (SEMED) region. The Framework consists of up to EUR 35 million from the Bank’s account and up to EUR 10 million funded by the Green Energy Special Fund (GESF) administered by the Bank. The Framework will address key transition challenges through each sub-project, which will target the following transition objectives: ESCO will promote energy efficient solutions in the provision of municipal services in the SEMED region. The Framework funding will consist of two tranches: The average requirement for a single sub-project will be around EUR 1-7 million, giving a total of 12-15 expected sub-projects. Up to EUR 45 million. It is anticipated that the sub-projects are categorised "B" and will have the potential to deliver net environmental and social benefits. Each sub-project will be categorised and will undergo appropriate Environmental and Social Due Diligence (ESDD).. Any residual risks will be managed through project specific Environmental and Social Action Plans generated at the conclusion of ESDD to ensure compliance with the Bank's Environmental and Social (E&S) requirements. Under the original Framework, the sub-projects will benefit from Technical Cooperation (TC), including: