According to the Bank's website, this project provides financing to Porto Franco, an urban regeneration project. This entails the development and operation of an integrated retail, office and hotel project over 150,000 sqm.
The Project will be developed on the site of a former military shipyard situated between the Historic Centre (Old Town) of Tallinn (a UNESCO World Heritage site) and the Old City Harbour (Port of Tallinn) in Estonia.
Porto Franco OU is a special purpose vehicle that was established for this project.
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 email@example.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.