Iasi Urban Transport (EBRD-48296)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Specific Location
Iasi
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Nov 15, 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
Municipality of Iasi
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • 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)
$ 16.72 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 15 million Euro
Converted using 2016-08-30 exchange rate.
Project Cost (USD)
$ 20.07 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 18 million Euro
Converted using 2016-08-30 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Aug 30, 2016


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Project Description
This project finances the Municipality of Iasi for the the acquisition of 50 new buses with low carbon emissions, which comply with the European Commission's Euro 6 legislation on diesel engine emissions. The City of Iasi is one of the largest cities in Romania, with a population of approximately 400,000.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
Primaria Municipiului Iasi +40232267582 +40232211200 www.primaria-iasi.ro Bd. Stefan cel Mare si Sfant nr. 11, 700064 Iasi 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.