Transalted version of this PSD: Polish
Provision of a senior loan of up to PLN 400.6 million to co-finance acquisition of up to 45 metro trains required by the Warsaw Metro in connection with the expansion of its second line.
The expansion of Metro Line II is an important investment in the development of high-capacity public transport in Warsaw, which is expected to reduce traffic congestion in the City of Warsaw, lower the overall carbon footprint of the urban transport sector, and bring additional modal shift from personal cars and busses to the subway system.
The Project is fundamental for the increased share of the public transportation in the daily commuting modes and to the success of achieving the reduction of CO2 emissions as well as reduction of fine particles and traffic congestion levels. In addition to that, the Project is expected to bring additional energy efficiency through the replacement of the old and less efficient metro trains.
METRO WARSZAWSKIE SP ZOO
Metro Warszawskie Sp. z o.o. ("Warsaw Metro" or the "Company"), a limited liability company wholly owned by the City of Warsaw and providing urban transport services on the subway line in Warsaw.
EBRD Finance Summary
Up to PLN 400.6 million senior loan to co-finance the new rolling stock to be purchased by the Company, which is part of the Warsaw Metro development project implemented by the City of Warsaw and the Company (the "Project"). It is expected that part of the EBRD financing will be syndicated. The Project is expected to be co-financed from the EU Cohesion Funds, the Company and debt financing.
Total Project Cost
The entire value of the Project is currently estimated at up to PLN 1,691,486,646.
Environmental and Social Summary
Category B. Environmental and Social issues associated with the acquisition of new rolling stock can be readily assessed and mitigated based on Environmental and Social Due Diligence ("ESDD"). The Bank has an established relationship with the Company, and an Environmental and Social Action Plan ("ESAP") has been agreed with the Company as part of past financing. The Bank's preliminary in-house ESDD confirmed that the ESAP is being implemented and the Company has the institutional capacity to fully implement the Bank's Performance Requirements ("PR"s). The Company has a good track record in reporting on the ESAP progress.
As part of the current Project the Bank will undertake additional due diligence to ensure that the project is structured to meet the Bank's requirements and an assessment will be made of the status of implementations of the existing ESAP. The ESDD will focus on the rolling stock and review that EU and National environmental, health and safety standards are met. As appropriate the existing ESAP will be updated.
The PSD will be updated based on the ESDD.
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