Translated version of this PSD: Russian
The EBRD is considering a loan of up to EUR 170 million to finance a light rail transit project in the city of Almaty under a sovereign guarantee or under PPP arrangements. The loan will be either to Almaty Elecrotrans, a municipal tram, trolleybus and bus company (or other municipal company) under a sovereign guarantee or to a private operator, if structured as a PPP project. The project is expected to be co-financed with other financing institutions to be determined.
The proposed loan would finance the construction of the LRT system’s fixed infrastructure and the purchase of urban rail rolling stock.
The Project is part of the Integrated Approach to the urban transport sector in Almaty. Under the Integrated Approach the EBRD is supporting introduction of incentive-based service contracts. The Public Service Contract for LRT will: (a) establish standards and a transparent structure for the provision of public transport services; and (b) allow the Company to agree with the City on investment plan and financing.
The LRT Project will also facilitate further private sector involvement in the provision of public transportation services in Almaty. It will be achieved by outsourcing of LRT operations to private sector for the first years of operation.
Almaty Electrotrans, an integrated public transport operator of trams, trolleybuses and urban buses, or other municipal company owned by the City of Almaty or a private operator.
A sovereign guaranteed loan of up to EUR 170 million.
Up to EUR 340 million.
Categorised B in accordance with the EBRD's 2008 Environmental and Social Policy. The project is expected to further improve environmental situation in the City of Almaty and result in reduced congestion, improved efficiency and quality of urban transport services. A preliminary ESIA was prepared in 2009-2010 by the external consultants for this project and a number of stakeholder meetings were held. The assessment indicated that the project is unlikely to have significant adverse environmental or social impacts, and the potential adverse environmental and social issues are site-specific and can be readily identified and addressed through adequate mitigation measures. Further environmental and social due diligence is underway to review the environmental and social work carried out to date and address any remaining gaps, including a corporate review of the Concessionaire's corporate E&S management systems and capacity to carry out the Project in compliance EBRD Performance Requirements. The due diligence will also ascertain the findings of the preliminary assessment of the potential future environmental and social issues, impacts and benefits associated with the proposed priority investment programme.
The necessary mitigation measures and stakeholder engagement will need to be properly implemented by the future Concessionaire during the design, construction and operation phase of the LRT project. A robust Environmental and Social Action Plan (ESAP) and a Stakeholder Engagement Plan (SEP) will need to be prepared for this purpose.
This PSD will be updated when the results of due diligence are known.
PPP advisory consultants (up to EUR 1.5 million)
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