This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Warsaw Metro (EBRD-39386)

Countries
  • Poland
Geographic location 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
Active
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
Mar 15, 2011
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.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Sep 7, 2010


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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.
PROJECT DESCRIPTION The EBRD is considering providing a senior loan of up to PLN 470 million to co-finance acquisition of 35 metro trains (210 metro wagons) required by the Warsaw Metro to be operated over both the existing metro line (Metro Line I requiring 15 new trains) and the new metro line currently under construction (Metro Line II requiring 20 new trains). TRANSITION IMPACT This project provides a platform to develop a robust methodology to determine the emission reductions of investments in the Warsaw urban transport sector, and aims to monetise these emission reductions under a carbon market instrument, such as Joint-Implementation. If successful, it would be the first carbon market example in the urban transport sector in Europe. This approach could promote market-based carbon trading mechanisms, for urban transport projects. THE CLIENT Metro Warszawskie Sp. z o.o. ("Warsaw Metro" or the "Company"), a limited liability company wholly owned by the City of Warsaw and providing urban transport services on the subway line in Warsaw. EBRD FINANCE Up to PLN 470 million senior loan to co-finance the new rolling stock to be purchased by the Company, which is part of the Metro Line II development project implemented by the City of Warsaw and the Company (the "Project"). The Project is expected to be co-financed from the EU Cohesion Funds, the City, the Company and debt financing. PROJECT COST The entire value of the Project is currently estimated at PLN 4.8 billion. ENVIRONMENTAL IMPACT The Project has been categorized B, requiring an Environmental and Social Due Diligence (ESDD) of the project, namely the planned acquisition of new rolling stock. TECHNICAL COOPERATION It is envisaged that the technical cooperation support will provide assistance with the following:
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.
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.

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