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CEPA were appointed by the EBRD to support them in developing estimates of an economic value of water, reflecting the full social costs of water provision. 

How we did it

The opening phase of this work comprised a full literature review, looking at different methods for estimating such a cost. The review led to the development of a conceptual framework. Based on this conceptual framework, the CEPA team developed a tool and associated user manual for use by practitioners at the EBRD in investment appraisal and in policy dialogue. CEPA presented different phases of this work at a number of workshops over the course of the project.

What we found

We used the tool and manual to apply this to existing EBRD projects in their countries of operation. This allowed an estimate of the shadow value of work to be taken into account for investment appraisal.