GrCF2 W2 Medias Infrastructure Loan (EBRD-52456)

Countries
  • Romania
Geographic location where the impacts of the investment may be experienced.
Specific Location
Medias
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 8, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
City of Medias
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
  • Technical Cooperation
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 8.66 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 38
Converted using 2022-02-27 exchange rate.
Grant Amount (USD)
$ 0.39 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 0.35
Converted using 2022-02-27 exchange rate.
Project Cost (USD)
$ 31.53 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 138.4
Converted using 2022-02-27 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 27, 2022

Disclosed by Bank Jun 29, 2021

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank website, the project consists in a loan to the City of Medias to co-finance critical investments in the City's infrastructure alongside EU grants under the relevant EU Regional Operational Programme for 2014-2020. The loan proceeds will fund the implementation of energy efficiency measures in four public buildings and in urban roads (including bridges), as well as help modernise, rehabilitate and extend the City's electric public transport infrastructure. The Project is designed to promote energy savings and to reduce of CO2 emissions in public buildings and to improve urban mobility. This will be achieved through energy-efficient rehabilitation of a pool of public buildings (schools, multi-functional and educational centre and social i medical centre) that includes insulation, LED lighting to replace incandescent bulbs, improved utility connection (water, sewerage, electricity, gas), indoor rehabilitation of electrical, plumbing, heating and ventilation installations and other works. In addition, the Project will improve the City's trolleybus network by acquiring three trolleybuses, improving facilities at bus stops, improving the e-ticketing system and rehabilitating the City's electric transport infrastructure. The City's priority investment programme also includes rehabilitation of several local city streets (including provision of LED lighting and safe pedestrian sidewalks and modernisation of underlying utility networks for sewerage).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

COMPANY CONTACT INFORMATION

Primaria Medias

primaria@primariamedias.ro

0745.108.0360269.841.198

http://www.primariamedias.ro

Piata Corneliu Coposu nr.3, cod 551017

Medias, jud. Sibiu

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

How it works

How it works