Early Warning System

Countries

Lithuania

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

Specific Location

City of Vilnius

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

Proposed

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

Sep 25, 2024

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

VILNIAUS VIESASIS TRANSPORTAS JSC

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Infrastructure
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)

$ 43.60 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 40
Converted using 2024-07-18 exchange rate.

Project Cost (USD)

$ 106.22 million

Other Related Projects

EBRD-50674 Green Cities 2 - Window II

Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 28, 2024

Disclosed by Bank Jul 18, 2024

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’s website, the project consists of the provision of a secured loan of up to EUR 40 million to Vilniaus Viesasis Transportas ("VVT"), a transport company owned by the City of Vilnius. The proceeds of the loan will be used to finance the purchase of up to 73 new articulated IMC trolleybuses and up to 71 standard battery / electricity powered buses, to renew part of VVT's ageing fleet. The Project is part of the Green Cities Window 2 Framework ("GrCF2 W2 Framework") and a continuation of the City's implementation of the developed Green City Action Plan ("GCAP"), through which the City identified, and is currently prioritising, its most pressing environmental challenges with targeted investments and policy actions to address them.

By improving the quality and reliability of trolleybuses and electric buses, the Project is expected to improve the attractiveness and increase the ridership of Vilnius' public transport, and therefore to encourage a modal shift towards low-emission, electric transport modes. The Project is expected to result in reduced emissions and enhanced energy efficiency. The Project is part of the City's GCAP to achieve sustainable mobility in Vilnius, which aims to make public transport the backbone of transport in Vilnius by ensuring quick and safe transport within the city and by increasing connectivity between the city and peripheral areas through public transport service.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Category B under the 2019 ESP. The E&S impacts are expected to be limited and mainly positive. The new trolleybuses and electric buses will be operational during 2026-2028.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

A secured loan of up to EUR 40 million

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.

JSC Vilniaus Viesasis Transportas ("VVT") is the public transport operator of the City of Vilnius, 100% owned by the City.

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

Arturas Paipolas
Arturas.Paipolas@vilniausvt.lt
+37065917638
www.vilniausviesasistransportas.lt
UAB "Vilniaus viesasis transportas" Zolyno g. 15, 10209 Vilnius

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