Industry: Water environment Region: Other European countries (regions) Transaction price: $1 million Transaction method: equity financing
Introduction to the
Activities in the first phase have been defined on the basis of readiness and have been developed through the ongoing support of the World Bank in the region and other initiatives funded by national resources and other financial institutions. This phase will allow for trust building and learning, while funding activities with limited complexity and interdependence. Subprojects will be implemented at the country level and will produce cumulative regional benefits. The first phase will also finance the preparations for other transformational, multi-purpose regional investments financed in the first phase.
Component 1: Integrated management and development of the Sava Corridor.
This component will invest in retrofits and upgrades to flood control infrastructure to address the increasing risk of flooding caused by climate change. These retrofits will reduce the risk and impact of flooding, thereby increasing the resilience of coastal countries to these climate change-related threats. This component will also fund activities needed to improve navigation.
Component 2: Integrated management and development of the Drina Corridor.
This component will support multi-use investments along the Drina River to reduce the risk and potential impact of flooding. It could also support preparatory interventions to be implemented in the first phase to protect environmental assets of global value. This component will facilitate the implementation of actions, management measures and investments identified in the Drina River Strategic Action Plan prepared under the ongoing GeF for the Western Balkans for the Drina River Basin Management Project, as well as investments identified through the integrated hydropower development project. These measures will help improve the resilience of coastal countries to floods and droughts.
Component 3: Project preparation and management.
This component will support :(a) the preparation of phase I regional activities; (b) Operating costs, consultancy, non-consultancy services and goods required for the establishment and operation of national/entity project executing units.
Component 4: Area activities.
This component is key to strengthening regional strategic dialogue and joint planning for shared water resources in the Sava and Drina river basins, as well as sustainable management and development, including building capacity to respond to climate shocks.