| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 35.00 |
Enhancing Energy Security through Power Interconnection and Renewable Energy Program
Abstract*
Background
The Black Sea Submarine Cable (BSSC) Project represents one of the most strategic and ambitious energy and digital connectivity initiatives in the South Caucasus and Southeast Europe. The proposed BSSC Project would include parallel electricity and fiber-optic submarine cable interconnections across the Black Sea, with landing points in Georgia and Romania. Increased electricity trade through the electricity interconnection is expected... Show More
Development Objective
Enhance the implementation readiness of the Black Sea Submarine Cable Project.
Key Details
Project Details
P179950
Active
Joern Huenteler , Sameh Mobarek, Florian Kitt
Georgia
May 17, 2023
(as of board presentation)
May 21, 2024
February 26, 2025
US$ 50.00 million
Georgian State Electrosystem
2024
US$ 35.00 million
N/A
May 1, 2023
June 30, 2029
Yes
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 35.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 35.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 50.00 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| May 21, 2024 | IBRD-96730 | Loan Commitment | 35,000,000.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Procurement | Satisfactory | 2025-03-04 |
| Financial Management | Satisfactory | 2025-03-04 |
| Progress towards achievement of PDO | Satisfactory | 2025-03-04 |
| Project Management | Satisfactory | 2025-03-04 |
| Monitoring and Evaluation | Satisfactory | 2025-03-04 |
| Overall Implementation Progress (IP) | Satisfactory | 2025-03-04 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
No data available.