Tunis Urban Rail Fleet Renewal (EBRD-46507)

Countries
  • Tunisia
Geographic location 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
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."
Voting Date
Nov 29, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Tunisia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 117.08 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 EUR 100,000,000.00
Converted using 2017-10-03 exchange rate.
Project Cost (USD)
$ 281.24 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 EUR 240,200,000.00
Converted using 2017-10-03 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 3, 2017

Disclosed by Bank Sep 25, 2017

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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.
Provision of a sovereign loan of up to EUR 100 million to the Republic of Tunisia, to be on-lent to the Societe des Transports de Tunis ("TRANSTU" or the "Company"). The objective of the project is to support the upgrade and renovation of the rail urban transport network in Tunis, in order to enhance the network's capacity, performance, reliability and safety. The Bank's engagement will entail the introduction of a Corporate Development Programme ("CDP") to support TRANSTU in its restructuring efforts and in adopting and implementing measures to improve its financial sustainability and operational efficiency. In addition, the Bank's engagement will support TRANSTU in adopting and implementing measures to improve its internal controls, compliance and other aspects of its corporate governance through the development and the implementation of a Corporate Governance Action Plan ('CGAP"). The Project will also contribute to lowering carbon emissions by i) preventing a modal shift to road by creating additional capacity in the network to address the expected passenger growth, through the renewal of TGM and metro train sets; ii) shifting traffic from road to rail transport by optimising journey times and; iii) increasing overall fleet availability and optimising operations through the construction of a new maintenance depot.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
Asma Ben Abdelazizassma benabdellaziz@yahoo.fr +216 71 904 908+216 71 904 883 http://www.transtu.tn33 Avenue du Japon - Montplaisir 1073 Tunis 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.

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