Yerevan Metro Rehabilitation Project Phase III (EBRD-45742)

Countries
  • Armenia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Yerevan Metro Company
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Technical Cooperation
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, etc.
Investment Amount (USD)
$ 7.89 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 7 million
Converted using 2015-10-06 exchange rate.
Loan Amount (USD)
$ 7.89 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 7 million
Converted using 2015-10-06 exchange rate.
Project Cost (USD)
$ 25.35 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 22.5
Converted using 2015-10-06 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 24, 2018

Disclosed by Bank Oct 6, 2015


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

Project Description

According to EBRD website, the project will comprise modernisation of rolling stock, renovation of the rolling stock maintenance depot, rehabilitation of the electrical sub-stations and power cables, ventilation systems, track maintenance as well as new escalators at the metro stations. It will finance the critical rehabilitation needs to ensure safe operations of the Yerevan metro system. The project will be complemented by a TC package comprising implementation as well as corporate development support to the Company. The Company will also be supported to implement an Environmental and Social Action Plan.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Armine Parsyan
Email Addres: armine.parsyan@gmail.com
Telephone No.: +37410273081, +37410273081
Office Address: 78 Baghramyan Street 347033, Yerevan, Republic of Armenia

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.