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|Target Board date:||25 June 2014|
|Status:||Passed concept review, Pending final review|
|PSD disclosed:||12 Mar 2014|
The EBRD is considering a senior loan of up to RON 58.5 million to S.C. Publitrans2000 S. A. (the “company” or “Publitrans”), a joint-stock company wholly-owned by the municipality of Pitesti (the “city”), which provides public transport services. The loan will finance part of the company’s fleet renewal, which consists of 70 new EURO-6 buses, in line with applicable EU requirements. The project is part of the city’s plan to improve the public transport system by reducing air pollution in the city centre and by facilitating access to new business/industrial areas.
Transition impact is expected to derive from:
S.C. Publitrans2000 S. A., a joint-stock company owned by the city of Pitesti, Arges county.
A senior loan of up to RON 58.5 million to the company.
The total cost of the project is estimated at EUR 16.1 million.
The Project has been categorised B in accordance with the Bank’s Environmental and Social Policy 2008. Environmental and social due diligence (ESDD) has been undertaken by the Bank’s Environment and Sustainability Department based on a review of the Company’s corporate management systems; relevant information provided by the Company; and discussions with the Company’s personnel to evaluate the current operational performance and the risk management plans for the planned investment programme.
The investigation showed that the potential future adverse impacts of the project will be site specific and addressed through appropriate mitigation measures. The acquisition of 70 new EURO-6 buses in line with EU standards and introduction of the automated traffic management system is not associated with significant EHS impacts and will create considerable social, environmental and financial benefits to the community and will result in the saving of 11,380 tonnes of CO2 emissions.
The affordability analysis shows that affordability ratio will be well below the threshold of 5 per cent.
An Environmental and Social Action Plan (ESAP) has been developed and agreed with the Company to address some areas for improvement identified during the ESDD and carry out the necessary mitigation measures which will enable the Company to comply with national regulations and the Bank’s PRs.
In addition, the ESAP also requires the development and implementation of a Stakeholder Engagement Plan and grievance mechanism. The Company will also disclose locally information on its environmental and social performance.
The project will be monitored in terms of its environmental and social performance and implementation of the ESAP through annual E&S reports and site visits when deemed necessary.
The project will benefit from TC including:
Support for e-ticketing out-sourcing. (EUR 150,000, donor funding or the EBRD Shareholder Special Fund). The TC would cover options analysis and support for the tendering process, negotiations and the start-up phase of the contract.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
Text of the PIP
The EBRD has established the Project Complaint Mechanism (PCM) to provide an opportunity for an independent review of complaints from one or more individuals or from organisations concerning projects financed by the Bank which are alleged to have caused, or likely to cause, harm. The Rules of Procedure governing the PCM can be found at www.ebrd.com/downloads/integrity/pcmrules.pdf, the Russian version can be accessed at http://www.ebrd.com/downloads/integrity/pcmrulesr.pdf
Any complaint under the PCM must be filed no later than 12 months after the last distribution of EBRD funds. You may contact the PCM officer (at firstname.lastname@example.org) or the relevant EBRD Resident Office for assistance if you are uncertain as to the period within which a complaint must be filed.
Project Summary Documents are created before consideration by the EBRD Board of Directors. Details of a project may change following disclosure of a Project Summary Document. Project Summary Documents cannot be considered to represent official EBRD policy.
Last updated 10 September 2014