His Excellency the Canadian Ambassador to Serbia Mr. Giles Norman, IFC’s Regional Manager for the Western Balkans Mr. Nikolas Marquier, accompanied with Trade Commissioner at the Embassy of Canada Mr. Filip Petrović and IFC Officer for Serbia Mr. Bodin Bulatović, visited Vinča Waste Resource Recovery Center and witnessed progress of the Belgrade’s Private – Public Partnership Project between the City of Belgrade and Beo Čista Energija d.o.o. established by ITOCHU Corporation (a Japanese conglomerate operating globally on the “Sampo-Yoshi” principle), Veolia Group (a French environmental transformation company), and the Marguerite fund (a pan-European investment fund).
City of Belgrade pioneering initiative, Beo Čista Energija is turning into the reality that significantly enhances waste management practice in the Belgrade and the Republic of Serbia thanks to complex project financing structure involving the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and the Austrian Development Bank (OeEB).
IFC, who plays a key role globally in advancing private sector climate solutions to help mitigate climate change for the Belgrade’s PPP landmark project in Vinca, is providing financing that includes an “A loan” of up to €72.2 million. The Government of Canada support the IFC to provide a concessional senior loan of up to €20 million from the Canada-IFC Blended Climate Finance Program and MIGA guarantees of €97.3 million. Oesterreichische Entwicklungsbank (OeEB) provided “A loan” from of up to €35 million and a “B loan” of up to €35 million. It is part of a wider package that includes an EBRD loan of up to €128.2 million.
Mr. Mitsuaki Harada and Mr. Vladimir Milovanović, Managing Directors of Beo Čista Energija thanked for the strong support from the International Finance Corporation and the Embassy of Canada to the PPP project and presented to the esteemed visitors completed facilities, new sanitary landfills and infrastructure, and informed that full scale of services and generation of energy from thermal treatment of the communal waste and landfill gas, all in accordance with the PPP Contract, are scheduled to be provided to the City at the beginning of next year, wright after completing remaining hot commissioning activities. About 30,000 households will be supplied with renewable electrical energy and about 60,000 households with heating energy from the Vinca facilities. Overall Belgrade’s PPP Vinca project would contribute to landfill carbon footprint reduction of 210,000 tons of CO2eq yearly thus massively improving Belgrade’s environment.