Tunis Urban Rail Fleet Renewal (EBRD-46507)

Countries
  • Tunisia
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.
Voting Date
Nov 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Tunisia
The holder of the loan, grant, or other investment.
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, converted to USD$. 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, converted to USD$. Please see updated project documentation 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
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
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
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.