Amman Bus Project (EBRD-51773)

Countries
  • Jordan
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
Dec 15, 2020
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
Greater Amman 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)
$ 14.54 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 11,959,681.00
Converted using 2020-12-15 exchange rate.
Project Cost (USD)
$ 24.45 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 20,119,728.00
Converted using 2020-12-15 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 17, 2020

Disclosed by Bank Dec 15, 2020


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Project Description

According to bank provided information, the investment involves the provision of up to JOD 10.3 million (~EUR 12.0 million) unsecured sub-sovereign loan to GAM to finance the acquisition of 136 diesel Euro V buses (including ancillary systems) as part of larger bus fleet expansion involving 151 buses which include 15 electric buses as a pilot rollout of zero-emission public transport vehicles in the city of Amman. The loan will be co-financed by a capex grant of up to EUR 8.0 million from the Community Resilience ("CR") Sub Account of the EBRD's SSF.

The city of Amman with a population of approx. 4.5 million, would like to improve standards of the urban transport system, namely by expanding its bus fleet through the purchase of up to 151 new buses with related bus depot facilities. The proposed new bus fleet will involve 136 diesel Euro V buses (to be financed under the Municipal Refugee Reslience Response ("MR3") framework) and 15 electric buses (to be financed under the Green Cities Framework ("GrCF")). The Project will serve new routes under the bus network plan developed by GAM and will include a ticketing system and real-time information systems compatible with their existing systems. The tender for the Project will be launched in December 2020.

It is intended that the bus fleet will be purchased by GAM and leased to a private sector operator which will be responsible for the depot facilities and warranty and maintenance obligations for the fleet and be paid through a public service contract ("PSC") with Amman Vision for Transport (the municipal company responsible for transport operations) under a gross-cost arrangement.

Investment Description

Contact Information

Hussain Alrubehat
hussain.alrubehat@ammancity.gov.jo 
+96264621179

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request 

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 at: 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