Project description
and objectives:
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Proposed €51.5 million loan to the General Council of the City of Bucharest to finance investments in a traffic management system, renovation of part of the old city centre, and district heating. The transaction will provide the first loan to the CGMB on commercial terms and without a guarantee from the Central Government.
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Transition
impact:
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The transaction will (i) facilitate the CGMB’s access to finance from the commercial market; (ii) provide for outsourcing of key municipal services within the urban transport sector; (iii) include a credit enhancement programme for the CGMB; and (iv) introduce commercial practice in the provision of heat and hot water services.
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The client:
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General Council of the City of Bucharest (CGMB).
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EBRD
finance:
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A €51.5 million unsecured senior loan to the CGMB to be repaid from the CGMB general revenues. Part of the loan might be syndicated under the Bank’s A/B-loan structure.
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Total project cost:
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The total project cost is estimated at €51.5 million.
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Environmental impact:
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The project has been screened B/0 requiring an environmental analysis.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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EBRD contact:
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Susan Goeransson, Operation Leader: goeranss@ebrd.com
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Procurement or tendering
opportunities:
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Visit EBRD Procurement
Enquiries: Tel: +44 20 7338 6794; Fax: +44 20 7338 7472, Email: procurement@ebrd.com
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General
enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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