Armenia : COVID-19 Working Capital Support Project
The project will support the borrower's increased working capital needs.
Project Details
-
Project Officer
Mokroussov, Sergey
Private Sector Operations Department
Request for information -
Country/Economy
Armenia -
Sector
- Energy
| Project Name | COVID-19 Working Capital Support Project | |||||
| Project Number | 50146-002 | |||||
| Borrower / Company | Electric Networks of Armenia CJSC |
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| Country / Economy | Armenia |
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| Location | Nation-wide | |||||
| Type or Modality of Assistance |
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| Operational Priorities | OP2: Accelerating progress in gender equality OP4: Making cities more livable |
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| Sector / Subsector | Energy / Electricity transmission and distribution |
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| Gender | Some gender elements | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Portfolio Management Division, PSOD | |||||
| Responsible ADB Officer | Mokroussov, Sergey | |||||
| Project Sponsor(s) | Liormand Holdings Limited Tashir Capital JSC |
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| Description | The project will support the borrower's increased working capital needs. | |||||
| Objectives and Scope | The loan will assist ENA to relieve the financial stress caused by delayed payments of electricity bills by ENA's private customers due to the coronavirus disease (COVID-19), which could otherwise lead to deterioration of its services and ultimately disrupt Armenia's access to electricity. | |||||
| Status of Operation/Construction | The facility has matured (fully repaid). | |||||
| Linkage to Country/Regional Strategy | The project is consistent with Strategy 2030 operational priorities of making cities more livable, tackling climate change and accelerating progress in gender equality. It also supports Strategy 2030's objectives to expand the role of private sector operations in the Developing Member Countries. The project is consistent with ADB's country partnership strategy, 2019-2023 for Armenia as it supports diversified growth and wider inclusiveness with nonsovereign financing for a priority infrastructure investment in energy. |
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | ADB has categorized the investment in compliance with ADB's Safeguard Policy Statement (2009) as environment category C. |
| Involuntary Resettlement | ADB has categorized the investment in compliance with ADB's Safeguard Policy Statement (2009) as involuntary resettlement category C. |
| Indigenous Peoples | ADB has categorized the investment in compliance with ADB's Safeguard Policy Statement (2009) as indigenous peoples category C. |
| Stakeholder Communication, Participation, and Consultation | Borrower's environmental and social management system (ESMS) includes provisions and procedures for stakeholder engagement, community consultation, and grievance resolution in its operations. |
| Timetable for assistance design, processing and implementation | |
|---|---|
| Concept Clearance | 14 Apr 2020 |
| Credit Committee Meeting | 19 May 2020 |
| Approval | 28 May 2020 |
| Last PDS Update | 18 Nov 2021 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
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 status of any territory or area.
| Title | Document Type | Document Date |
|---|---|---|
| COVID-19 Working Capital Support Project: Extended Annual Review Report | Extended Annual Review Reports | Dec 2021 |
| COVID-19 Working Capital Support Project: FAST Report | Faster Approach to Small Nonsovereign Transactions | May 2020 |
| COVID-19 Working Capital Support Project: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | May 2020 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.