Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Georgia
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Asian Infrastructure Investment Bank (AIIB)
Status: Pending
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2018-03-01
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: JSC Nenskra Hydro
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Hydropower
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 86.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 1,035.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ AIIB website
Updated in EWS: 2017-11-02
Georgia: 280 MW Nenskra Hydropower Plant
AIIB-000032

Project Description
The AIIB is considering provision of debt financing for the development, construction and operation of a greenfield hydropower plant (280 MW) located in the Svaneti Region, northwestern part of Georgia. The Project will be constructed under Engineering, Procurement and Construction (EPC) turnkey contract by a contractor who was selected through a process using international competitive bidding. This hydropower plant has also been funded previously by the ADB, EIB, and EBRD (see links below).
Investment Description
The proposed AIIB loan is for $86.7 million USD.
Corporate Actors
Contact Information
Contact Points AIIB: Seung Myun Lee Project Team Leader/Senior Private Sector Operations Specialist E-Mail: sean.lee@aiib.org Tel: +86 10 8358 0136 JSC Nenskra Hydro: Youngtak Choi E-Mail: youngtak.choi@nenskrahydro.ge Tel: +995 322 43 0419 ACCOUNTABILITY MECHANISM OF AIIB In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.
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