Green Cities 2 (EBRD-50440)

  • Europe and Central Asia
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
Bank Risk Rating
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
Oct 31, 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.
  • Climate and Environment
  • Infrastructure
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 812.00 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 700 million
Converted using 2018-09-03 exchange rate.
Project Cost (USD)
$ 1,334.00 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 1,149 million
Converted using 2018-09-03 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 28, 2019

Disclosed by Bank Aug 24, 2018

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Project Description

The Clients (borrowers) for the GrCF2 will include governments, municipalities, municipal-owned utility companies, and private companies providing municipal services. And the framework will consist of public (both sovereign and non - sovereign) and private loans, in an aggregate amount of up to EUR 700 million.

According to the bank document, the GrCF2 continues to serve as a sector-wide catalyst for addressing environmental challenges at the city level. This will be achieved through the preparation and subsequent implementation of Green City Action Plans ("GCAP"). GCAP methodology takes a systematic approach to identify, benchmarking, prioritizing and guiding green city actions by cities.

The process involves four steps:

1. Green city baseline and priority setting: measuring the current status of environmental challenges in the city based on 70 core indicators and identifying the priority environmental challenges that need to be addressed.

2. Green City Action Plan: preparing a document that articulates the city's vision, strategic objectives and priority actions and investments regarding environmental challenges and meet the objectives.

3. Implementation: execution of the GCAP.

4. Monitoring and evaluation: monitoring the GCAP results and updating the GCAP as necessary.

Thus GCAPs will be used to identify priority environmental and climate change challenges and subsequent green investments and policy interventions, together with wider strategic objectives in this field. Beyond GCAPs, the sub-projects will address company financial and operational performance, together with implementation capacity, where required and support their access to capital markets.

Investment Description

The total cost of the GrCF2 is estimated at up to €1,149 million including co-financing provided by international donors. The GrCF2 will also benefit from technical cooperation assignments to support preparation and implementation of sub-projects.

Contact Information

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

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Text of the PIP


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 a 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 or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at