Green BRT Karachi (GCF-FP085)

Countries
  • Pakistan
Where the impacts of the investment may be experienced.
Specific Location
Karachi
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
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 1, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Province of Sindh, Islamic Republic of Pakistan
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 49.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 37.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 11.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 583.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Dec 15, 2018


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Project Description

According to the bank document, the proposed project will help develop a sustainable transportation system in Karachi by delivering the city's _red line_ BRT corridor, directly benefiting 1.5 million people. The project will comprise two interlinked outputs: (1) the construction of a 25-kilometer (km) BRT corridor and associated facilities, and (2) effective project management and sustainable BRT operations through institutional developments. The project is economically justified by major time savings for future BRT passengers, vehicle operating cost savings, better air quality and carbon emissions savings, which will improve the health of Karachi's citizens and mitigate climate change. The project will also make Karachi safer, boost private sector investment, and foster gender equity.

Investment Description
  • Green Climate Fund (GCF)

Co-Financing
Asian Development Bank Loan USD 442.0 m
Province of Sindh Grant USD 92.5 m

 

Contact Information

Accredited Entity

  • Asian Development Bank (ADB) Mr. Saad Paracha Tel: +63-2-632-4474

Mr. Christian Ellermann Tel: +63-2-632-4564 NDA/FP in Pakistan

Ministry of Climate Change
  • Mr. Shahrukh Nusrat
    Mobile: +9251-9224579 Fax: +9251-9204126

 

  • Mr. Ahsanullah Khan
    Mobile: +9251-9245626 Fax: +9251-9245627

 

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.