Arad Urban Rehabilitation and Parking Management (EBRD-48156)

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
Approved
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
May 25, 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
City of Arad
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 22.31 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 2016-05-25 exchange rate.
Project Cost (USD)
$ 27.91 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 25,025,000.00
Converted using 2016-05-25 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 20, 2017

Disclosed by Bank Mar 22, 2016


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

Project Description
The EBRD is considering a senior loan of up to EUR 20 million to the City of Arad, an existing client, located in the western part of Romania. The loan will finance investments in the city's urban mobility plan, with a specific focus on parking management systems and related investments. This project is proposed under Romania: Sustainable Mobility and Access to Road Transport Framework ("SMART") which was approved by the Board on 25 November.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
CITY OF ARAD, located near the Hungarian border, is a significant regional transportation hub and commercial centre, with population of 170,000.
Contact Information
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.