Green Cities 3 - Window II (EBRD-55845)

Regions
  • Europe and Central Asia
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.
Bank Risk Rating
U
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
Nov 6, 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
Regional
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 2,843.84 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 2650
Converted using 2024-11-06 exchange rate.
Project Cost (USD)
$ 2,843.84 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 2650
Converted using 2024-11-06 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2025

Disclosed by Bank Oct 15, 2024

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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.

According to the Bank’s website, the project consists of the provision of up to EUR 2,650 million for Window II under the third Green Cities Framework ('GrCF3 W2'), to support investments related to Green Cities.

The over-arching aim of the third Green Cities Framework ('GrCF3', or 'Framework') 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 the 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 while maintaining a strong connection to other key national or local strategic documents.

The process involves four steps:

Green city baseline and priority setting: measuring the current status of climate and environmental challenges in the city based on a comprehensive indicator database and identifying the priority climate and environmental challenges that need to be addressed.Development of the GCAP document: preparing a document that articulates the city's vision, strategic objectives and priority investments and policy measures to address priority climate and environmental challenges and meet the objectives.Implementation: execution of the GCAP.Monitoring and evaluation: monitoring the GCAP results and updating the GCAP as necessary.

Green city baseline and priority setting: measuring the current status of climate and environmental challenges in the city based on a comprehensive indicator database and identifying the priority climate and environmental challenges that need to be addressed.

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.

The Framework itself is not categorised. Each sub-Project will be individually categorised and will be subject to sub-Project specific Environmental and Social Due Diligence. The sub-Projects under the Framework will comply with the Bank's Environmental and Social Policy and the Green Cities eligibility criteria.

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

The GrCF3 W2 will consist of sovereign and non-sovereign loans, bonds, and guarantees, in an aggregate amount of up to EUR 2,650 million.

The GrCF3 will benefit from co-financing and technical cooperation assignments, funded by international donors, 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 (borrowers) for the GrCF3 W2 will include sovereigns, municipalities, municipal owned utility companies, private companies and other sovereign entities supporting green city investments for the purpose of investing in green urban infrastructure in all regions where the EBRD operates.


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

How it works

How it works