Project Context:
The EBRD was provided a €10 million loan to Vodovod i odvodnja d.o.o. Sibenik (the “Company”), municipal water and wastewater company providing services in the area of the City of Sibenik, to finance the rehabilitation and upgrade of the wastewater infrastructure in the Sibenik area.
The project aimed to increase the coverage of the sewage network in Sibenik area and enable the company achieve compliance with the EU directives.
Aspiro Role:
- We identified areas for improvement of financial and operational performance of Vodovod i odvodnja (ViO), water utility company of the city of Šibenik
- We supported ViO in reporting and clearance of loan covenants toward the EBRD
- We developed a Financial and Operational Performance Improvement Programme (FOPIP) centred around customer management improvements, streamlining of billing and collection procedures, reduction of commercial / administrative water losses in the system, as well as identification of areas for PPP
- We assisted in take-off of implementing Environmental and Social Action Plan and Stakeholder Engagement Plan according to EBRD’s 2008 Environmental and Social Policy
- We helped finalize the Public Service Agreement between the City and ViO including definition of key performance indicators of ViO operations; the PSA has been signed, demonstrating benefits of performance-based utility managemend ahead of any PPP
- We have supported the implementation of the FOPIP
- We continued providing support in project quarterly progress reporting until end of our engagement period
Client Statement:
“For me personally, I have appreciated the detail orientation and professionalism of Aspiro team members, which were available to us. The project outcomes were delivered exactly on schedule and their overall quality have confirmed their highly professional work. I believe that this cooperation was a mutually rewarding experience for both of our companies. If a project of similar scope will be delivered at our business partners’, my recommendation will be for them to choose Aspiro as a FOPIP consultant.”
Miho Mioc, Director,
Vodovod I odvodnja Sibenik