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1st deal in Russian public transport to help industrial centre of Togliatti
Equivalent of €10 million to renew municipal bus fleet in southeast Russia
In its first transaction in Russia's urban transport sector, the EBRD has lent
the rouble equivalent of €10 million to help the city of Togliatti buy a new
fleet of buses and set in motion the restructuring of its public transport
system.
The 10-year loan will enable this industrial centre 1,000 km southeast of
Moscow to replace its ageing fleet with about 100 new buses, as well as
purchase spare parts and workshop equipment. The new buses will meet European
emission standards and reduce fuel consumption substantially.
This marks the first time that international funding, apart from that provided
by bus manufacturers themselves, is being made available to a urban transport
company in Russia, said Thomas Maier, Director of the EBRD's Municipal and
Environmental Infrastructure team.
We hope Togliatti could therefore serve as a role model for other
municipalities, Mr Maier added.
As part of the operation, a public service contract will also be introduced
for the first time in the sector. The contract will establish a transparent
structure and standards for the provision of public transport. At the same
time, the Bank will assist the City in developing a system for tendering
contracts on routes operated by privately operated mini-buses in Togliatti.
The borrower is municipal public transport company ATP3, which will be the
sole city-owned operator after the planned restructuring. The loan is
guaranteed by the city of Togliatti. This industrial centre of nearly 750,000
people on the river Volga grew rapidly in the 1960s with the establishment of
the AvtoVAZ works, Russia's premier car manufacturer.
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