Cluj Urban Public Transport Project (EBRD-47857)

Countries
  • Romania
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
Jun 27, 2016
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
Compania de Transport Public Cluj-Napoca S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • 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, etc.
Investment Amount (USD)
$ 21.00 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 20,000,000.00
Converted using 2016-06-27 exchange rate.
Project Cost (USD)
$ 27.20 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 24,800,000.00
Converted using 2016-06-27 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 22, 2017

Disclosed by Bank Jun 27, 2016


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Project Description
According to bank documents, the EBRD is considering providing a senior loan of up to EUR 20 million to Compania de Transport Public Cluj-Napoca S.A., a joint-stock company wholly-owned by the Municipality of Cluj-Napoca and provider of public transport services in the City. The loan will finance part of the company's rolling stock renewal through the purchase of up to 50 new EURO-6 buses and 7trams, in line with applicable EU requirements. Bank documents stat that "the project aims to improve the daily mobility of citizens and reduce pollution caused by traffic congestion, in line with the city's Sustainable Urban Mobility Plan ("SUMP"), focusing on the modernisation of its public transport system."
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Compania de Transport Public Cluj-Napoca S.A. is a joint-stock company wholly-owned by the Municipality of Cluj-Napoca.
Contact Information
Compania de Transport Public Cluj-Napoca S.A. sugestii@ctpcj.ro 0264-430917 0264-430931 http://www.ctpcj.ro 128-130, 21 Decembrie 1989 Blvd, City of Cluj-Napoca, Cluj County, Romania 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.