GrCF2 W1 - Tbilisi Bus Project II

cancelled

Provision of a sovereign loan of up to EUR 30 million to Georgia for on-lending to the city of Tbilisi (the "city") for the benefit of the Tbilisi Transport Company Ltd (the "company"), a municipal company, which operates buses, the metro system and cable cars in Tbilisi. It is envisaged that the project will be co-financed by a concessional loan of up to EUR 10 million provided by the Green Climate Fund ("GCF"). The project will finance a new bus fleet of modern 12-meter low- floor electric buses, associated charging infrastructure and related services for the city. The investment will improve the reliability, safety and efficiency of public transport, while usage of electric energy will reduce air pollutants and greenhouse gas emissions. The project will introduce low-floor buses, bringing significant social benefits by facilitating easy access for passengers with prams and shopping bags, especially women, and those with limited movement, including the elderly and the disabled. Moreover, the new buses will improve the safety of bus operations. Good The project is part of Green Cities 2 ("GrCF2") and a follow-on investment to the Tbilisi Green City Action Plan ("GCAP"). GrCF2's primary goal is to achieve significant environmental improvements and promote the Green transition quality within the relevant cities. GrCF2 also aims to build necessary capacity and facilitate better coordination and buy-in among various stakeholders in order to improve the governance, operational efficiency and financial sustainability of the targeted investments and initiatives. Under GrCF2, the Bank will put further emphasis on implementation of GCAPs, with at least half of all sub-investments expected to be follow-on transactions addressing critical environmental challenges identified by the GCAPs. The EBRD will also seek to introduce more robust policy advice on the back of lessons learned, targeted studies and technical assistance. The overall transition impact will stem from the Green and the Well-Governed qualities. The proposed project is expected to address the Green transition objectives on the back of significant environmental benefits through the provision of clean vehicles and the continued improvement of public transport services as a viable alternative to car based transportation in Tbilisi.  The project will further support the Well-Governed objective through continued support of sector reforms and re-routing of bus services in Tbilisi. GEORGIA SOVEREIGN Georgia represented by the Ministry of Finance, the City and the Company EUR 30,000,000.00 €30 million sovereign loan to Georgia to be co-financed by a concessional loan of up to €10 million provided by the GCF. EUR 40,000,000.00 The total project cost is €40 million. The project will also benefit from the technical cooperation assignments to support project preparation and implementation. Categorised B under the 2014 Environmental and Social Policy. This extension of municipal transport fleet enhancement programme with new electric buses will have beneficial Environmental and Social impacts. The Environmental and Social Due Diligence ("ESDD") will include a review of the Annual Environmental and Social Report, Environmental and Social Action Plan implementation status, internal environmental, health and safety audit reports on the previous project with the Client focusing specifically on overall environmental, health and safety management, labour, health and safety and driving safety practice and standards. PSD will be updated once ESDD is complete. The following technical co-operation ("TC") assignments are included as part of this project: Mr. Giorgi Dolidze gdolidze@metro.ge +995 577 228278 http://ttc.com.ge/ Tbilisi Transport Company 2, Station Square, Tbilisi 0112, Georgia