Albanian Railways (EBRD-48466)

Countries
  • Albania
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
Nov 30, 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
Albanian Railways
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 40.30 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 36.87 million.
Converted using 2016-11-30 exchange rate.
Project Cost (USD)
$ 100.80 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 92.03 million
Converted using 2016-11-30 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 8, 2017

Disclosed by Bank Jun 21, 2016


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Project Description
The EBRD is providing a sovereign loan to the Republic of Albania for the benefit of the Albanian Railways. The loan will finance: i) the rehabilitation of the existing railway line between the cities of Tirana and Durres with approximate length of 34.17 km and ii) the construction of a new railway link approximately 5 km in length to connect the existing Tirana-Durres rail line with the Tirana International Airport (TIA) and the interchange with the existing line. The proceeds of the Bank’s loan will be used to co-finance the construction works related to the project. The project is part of Route 2 of the Western Balkans Core Network connecting the cities of Podgorica in Montenegro and Vlore in Albania and has been established as an indicative extension to the Trans-European Transport Networks (TEN-T) to the Western Balkans core railway network.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
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.