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    Summary sheet

    Release date
    14 March 2023
    Status
    Reference
    Under appraisal | 04/08/2022
    20210614
    Project name
    Promoter - financial intermediary
    BLACK SEA DIGITAL CONNECTIVITY
    Not disclosed.
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 20 million
    EUR 45 million
    Location
    Sector(s)
    Description
    Objectives

    The project concerns the construction and deployment of a submarine cable system in the black sea interconnecting Europe with the Caucasus (Poti, Georgia) and then Armenia through an existing terrestrial infrastructure to be upgraded. The system will be operated on an open access basis , subject to local regulations, it will have a total length of 1 163km.

    The main objective of the project is to provide connectivity between Europe and South Caucasus with higher quality of service (lower latency) and high capacity.

    Environmental aspects
    Procurement

    In general, the deployment of telecommunication infrastructures have limited environmental effects, apart from minor disturbances during construction, which can be properly mitigated by applying industry-standard measures. For the specific case of submarine cables, the cable landings are usually subject to environmental studies for their approval. This can vary depending on the jurisdiction. As per the assessment performed within the EU, where and if applicable, the requirements of the Environmental Impact Assessment Directive (EIA) 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC or the equivalent national regulation will be verified during appraisal.

    The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement and the relevant applicable EU public procurement rules.

    Milestone
    Under appraisal
    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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