Georgia: Tbilisi Metro Modernization Project (AIIB-000889)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Georgia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of Georgia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 135.09 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 125
Converted using 2024-06-07 exchange rate.
Loan Amount (USD)
$ 135.09 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 125
Converted using 2024-06-07 exchange rate.
Project Cost (USD)
$ 226.95 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 210
Converted using 2024-06-07 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ AIIB website

Updated in EWS Aug 15, 2024

Disclosed by Bank Jun 7, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the AIIB, the project development objective is to enhance the efficiency, reliability, safety and sustainability of the Tbilisi Metro system through the procurement of new rolling stock.

The project encompasses the procurement of 97 electric metro cars (comprising 13 units of 4-car and 9 units of 5-car metro trains). This initiative aims to replace the existing metro cars scheduled for decommissioning between 2025 and 2030 due to safety reasons and operational life span limitations.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

According to the AIIB, the Government of Georgia will cotribute to the project with EUR 85 million.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The project will be implemented by Tbilisi Transport Company LLC. As stated on the company's website, Tbilisi Transport Company (formerly Tbilisi Metro Ltd), which is 100% owned by Tbilisi City Hall, has been operating since 1966 when the first subway to Didube - Rustaveli was opened

  • In 2009, according to the decision of the Tbilisi City Hall, the company was given ownership of municipal buses and related real estate in the form of three bus depot
  • In 2012 the company joined Tbilisi Rope way Infrastructure and the newly constructed Rike-Narikala Rope Way
  • In 2018, the company joined Tbilisi's parking system with up to 32'000 parking spaces

The company employs up to 6'492 people.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Tbilisi Transport Company Contractor Transport

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AIIB Team Leader:

Natalia Sanz - Senior Investment Officer
Email: natalia.sanz@aiib.org

Borrower - Government of Georgia:

Ekaterine Guntsadze - Deputy Minister of Finance
Email: E.Guntsadze@mof.ge

Implementing Entity - Tbilisi Transport Company LLC:

Giorgi Sharkov - General Director, TTC
Email: GSharkovi@metro.ge

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html

How it works

How it works