30 Jun 2014 07:00
30 June 2014
WYG plc
("WYG" or "Group")
WYG consortium awarded EUR 11.5m Western Balkans Contract by European Investment Bank
WYG, the global programme, project management and technical consultancy, is pleased to announce it has been awarded a 3-year technical assistance contract by the European Investment Bank (EIB), on behalf of the Western Balkans Investment Framework (WBIF), which commences immediately.
WYG is a major partner in a consortium, led by COWI, to provide technical assistance to the Infrastructure Projects Facility (IPF). The value of the contract to the consortium will be approximately EUR 11.5m of which WYG's share will be 40%. This continues WYG's presence on the series of IPFs, which commenced in 2008. This new contract will run in parallel with the EUR 22.4m IPF3 contract (2012-2018) on which WYG is also a major consortium partner. In IPF4, the EIB is replacing the European Commission (EC) as the Contracting Authority on behalf of WBIF, but the nature of the technical assistance will be similar to previous contracts, providing the support to beneficiaries to prepare and implement critical infrastructure projects in the six eligible Western Balkans countries.
The WBIF was established in 2009 as a joint initiative of the EC and a number of other international financial institutions (IFIs) including the Council of Europe Development Bank, the European Bank for Reconstruction and Development and the EIB.
The purpose of the WBIF is to promote the socio-economic development of Western Balkans countries through investment in much needed infrastructure projects, as well as through encouraging private sector development. The WBIF serves as a repository for grant funds from the IFIs and other bi-lateral donors as well as all of the beneficiary countries participating in the WBIF.
This is a key appointment at a time when the EC's 2014-2020 programme of funding under its Instrument for Pre-accession will further support the development needs of the countries in the Western Balkans (Albania, Bosnia & Herzegovina, Kosovo*, former Yugoslav Republic of Macedonia, Montenegro and Serbia) and will allow WYG to consolidate its strong position in the region.
Utilising the Group's strong experience in transport, environment and energy, WYG will assist in assessing the technical, economic and financial strength of projects for possible financial support from the IFIs and other sources. Typical input will include technical support and advice ranging from pre-feasibility and feasibility studies, economic and financial analysis, and environmental and socio-economical impact assessments. WYG will also provide support for project implementation, ranging from preparation of preliminary and detailed designs, procurement strategies and tender document preparation to the supervision and monitoring of construction of works.
Paul Hamer, Chief Executive Officer, said:
"We are delighted to have secured a key role on this latest phase of such a significant programme. It is a testament of our work on IPFs 1, 2 and 3 that our involvement on each phase of this programme is unbroken and reaffirms WYG's commitment to the region. We look forward to building on the strong relationships we have established with our consortium partners to help the region develop and to continuing to grow our presence in this region."
* This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo Declaration of Independence"
ENDS
WYG plc Tel: 0113 278 7111
Paul Hamer, Chief Executive Officer
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