GrCF: Sofia Electric Buses Acquisition (EBRD-49559)

Countries
  • Bulgaria
Where the impacts of the investment may be experienced.
Specific Location
Sofia
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
Jul 24, 2018
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
PUBLIC TRANSPORT COMPANY OF THE CITY OF SOFIA
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • 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)
$ 16.87 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 14.7
Converted using 2018-10-03 exchange rate.
Project Cost (USD)
$ 16.87 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 14.7
Converted using 2018-10-03 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 12, 2019

Disclosed by Bank Oct 3, 2018


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Project Description

This project provides financing to Sofia Electrical Transport Company for the purchase of 30 electric low floor buses, 12 charging stations and related spare parts and services.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

SETC is a joint-stock company incorporated in 1997 and fully owned by the City of Sofia. It forms an integral part of the overall public transport system in Sofia as its sole tram and trolleybus operator on 14 tram lines and 9 trolleybus lines in total. Company's key responsibilities include transportation of passengers by trolleybuses and trams, routine maintenance and repair of the fleet, collection and control of revenues, and maintenance and repair of the tram tracks and electric energy supply infrastructure for the traction power needs of trolleybuses and trams.

Once the Project is implemented, SETC will then take over an additional six bus routes and its responsibilities will be enhanced accordingly.

Contact Information

Orlin Prandjev
orlin.prandjev@gmail.com
00 359 92 36 219
www.elektrotransportsf.com
Stolichen Electrotransport EAD 30 #Podpolkovnik Kalitin# Str. 1233 Sofia, Bulgaria

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.