Gdansk Urban Transport Project - Phase III

cancelled

The EBRD is considering co-financing an investment programme of the municipal transport company in Gdańsk encompassing inter alia: (i) purchase of 35 new trams (ii) modernisation of the depot. Transition impact of the Project comes from reinforcing transition achievements of the earlier transaction with the EBRD and assisting the client in further implementation of the pre-agreed transition objectives (including outsourcing of selected services to the private sector). The Bank financing would help the client to overcome difficulties and constraints brought about by the financial crisis and worsening availability of external funding. In this respect the proposed financing is a part of the Bank’s crisis response strategy. The project also responds to the Bank’s operational priorities for Poland which intend to stimulate development of revenue backed financing and increase the supply of long-term finance for infrastructure projects. Zakład Komunikacji Miejskiej w Gdańsku Sp. z o.o. - the municipal transport company. Purchase of up to PLN 160 million revenue bonds. Not available at the moment. Screened B according to 2008 Environmental and Social Policy. The project is likely to result in environmental benefits and limited adverse impacts. Such impacts will be identified and assessed through environmental and social due diligence. The environmental and social status and performance of the existing facility will also be reviewed and the existing Environmental Action Plan may need to be adjusted accordingly. In line with the 2008 Environmental and Social Policy the Project Summary Document will be updated in case these changes are significant. None.