Gaziantep CNG Buses project (EBRD-48651)

Countries
  • Turkey
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
Jul 20, 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 GAZIANTEP - Gaziantep Metropolitan Municipality
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)
$ 5.40 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 5,000,000.00
Converted using 2016-07-20 exchange rate.
Project Cost (USD)
$ 5.40 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 5,000,000.00
Converted using 2016-07-20 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 8, 2017

Disclosed by Bank Jun 17, 2016


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Project Description
The Project will contribute to sustainable urban transport on a commercialized footing in Gaziantep within the context of rapid response to Refugee crisis in the city. The investment will reduce the pressure on municipal services and improve the access to local infrastructure services. EBRD signed a EUR 10 million loan agreement with Gaziantep Metropolitan Municipality on 17 November 2011 to finance the acquisition of 50 low floor buses, essential maintenance equipment and a CNG filling station. The Bank is considering EUR 5 million extension of the Bank's existing loan amount in order to finance an additional 30 Compressed Natural Gas ("CNG") buses to be used in public transport and 20 CNG buses to be used to transport Syrian refugee students in Gaziantep to schools. The Project is a refugee response focused in terms of expanding the quantity of municipal services to cope with the sudden population rise.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
Ahmet Erturk iletisim@gantep.bel.tr +90 342 211 12 00 +90 342 211 12 53 http://gantep.bel.tr/ Incilipinar mah. 4 Nolu Cadde Buyuksehir Belediyesi Binasi Sehitkamil / Gaziantep / Turkey 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.