Kryvyi Rih Trams (IFC-43194)

Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kryvyi Rih
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
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
KRYVYI RIH CITY COUNCIL
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)
$ 32.61 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 27
Converted using 2021-01-17 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 17, 2021

Disclosed by Bank Oct 1, 2020

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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.

The proposed IFC’s investment is to provide an A loan of up to EUR27m to the municipal transportation company of City of Kryvyi Rih (the “City” or “City of KR”), Shvydkisnyi Tramway (ST or the “Company”), to help procurement of up to 50 electrical tram vehicles and rehabilitation of around 1km of associated tramway line (the “Project”). The project will enhance physical connectivity of remote districts and encourage tramway use, expected to contribute to the reduction of pollution and congestion in the City. In parallel, as part of IFC’s Ukraine Cities Program, IFC is providing City with comprehensive advisory support to facilitate project implementation and increase its impacts. Activities include recommendations on improving sustainability and operational efficiency of transportation sector, reviewing tramway electric power supply system and related infrastructure to advise on capital modernization needs, as well as support in the technology specifications and selection of new low-floor energy efficient tram cars. Activities also include advisory to build KR’s internal E&S management capacity. The tram vehicles will be operating on the existing underground and on the ground tram lines of the City and will be replacing obsolete vehicles. The component relevant to the tramway line rehabilitation will take place on circa. 1 km section of Sobornosty Avenue, one of the main east-west transport arteries in the City center, located in the Metalurgiv district of Kryvyi Rih.

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

Contact Information
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ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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