Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Bulgaria
Croatia
Czech Republic
Estonia
Greece
Hungary
Latvia
Lithuania
Poland
Romania
Slovakia
Slovenia

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

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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

Jan 11, 2023

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.

Sectors

Climate and Environment
Infrastructure
Law and Government

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 183.02 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 170
Converted using 2023-01-11 exchange rate.

Project Cost (USD)

$ 183.02 million

Other Related Projects

Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 25, 2023

Disclosed by Bank Feb 8, 2023

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.

Provision of up to EUR 170 million for Window III under the second Green Cities Framework ('GrCF2 WIII'), to support investments related to Green Cities where sub-projects will benefit from InvestEU Guarantees.

The overarching aim of the GrCF2 is to continue to serve as a sector-wide catalyst for addressing climate and environmental challenges at the city level. This will be achieved through preparation and subsequent implementation of Green City Action Plans ("GCAP"). GCAP methodology takes a systematic approach to identifying, benchmarking, prioritising and guiding green city actions by cities.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

The GrCF2 WIII will consist of public (non - sovereign) and private loans, in an aggregate amount of up to EUR 170 million, supported by a InvestEU Guarantee of up to EUR 20 million.
The GrCF2 will benefit from co-financing and technical cooperation assignments, funded primarily through the InvestEU Advisory Hub, to support preparation and implementation of sub-projects.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Clients under GrCF2 Window III will include municipalities, municipally owned utility companies, private companies, state owned enterprises, and other sub-sovereign entities supporting green city investments, for the purpose of investing in green urban infrastructure

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.

No contacts available at the time of disclosure.

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