GrCF - Belgrade Green Boulevard

Location:

Serbia

Project number:

49267

Business sector:

Municipal and environmental infrastructure

Notice type:

Public

Environmental category:

B

Target board date:

20 Jun 2017

Status:

Signed

PSD disclosed:

15 Oct 2018

Translated version of this PSD: Serbian

Project Description

Provision of EUR 20 million to the City of Belgrade for financing reconstruction of four streets in Belgrade's city centre (Kraljice Marije, 27. marta, Dzordza Vasingtona, Cara Dusana) which form one boulevard that stretches for 3km in one of city's most vibrant districts. The works will include construction of new tram tracks with complete tracks substructure, new overhead contact line, new pavement structure and sidewalks, new overhead contact line, new street lightning and traffic management system.

Project Objectives

The Green Boulevard forms part of the programme of reconstruction and modernisation of tram tracks and streets in Belgrade, which has been ongoing for much of the past 15 years. As identified in the SMART Plan, this programme responds to the need for improvement of the existing streets, integrating improvements to traffic speeds by coordination of traffic signalling and prioritisation of tram (and in future, bus) traffic. The main objectives are: (i) renovation of tram tracks in central Belgrade to allow new trams to operate, and (ii) rehabilitation and expansion of the City's main roads to secure a better and safer traffic flow.

Transition Impact

Strong Good

The key sources of transition impact of the project are consistent with the Green Cities Framework ("GrCF"). The Bank's financing promotes the transition objectives of the GrCF by covenanting and supporting the City in the preparation of a comprehensive Green Cities Action Plan ("GCAP"). The GCAP will require the City to measure, benchmark and prioritise environmental issues and identify appropriate mitigation actions and investments. Such a plan will set a vision and benchmarks for the sustainable development of the City and help authorities to prioritise and make informed decisions regarding investments and reforms aimed at addressing identified challenges. In addition, the Bank will support the City's efforts in joining the Covenant of Mayors for Climate and Energy by financing preparation of the Sustainable Energy and Climate Action Plan ("SECAP").

Client Information

CITY OF BELGRADE

EBRD Finance Summary

EUR 20,000,000.00

Total Project Cost

EUR 20,000,000.00

Environmental and Social Summary

Categorised B (2014 Environmental and Social Policy). Environmental and Social due diligence was carried out in 2011 and part of the original scope of the Belgrade Public Transport and Traffic Infrastructure Project. EBRD has confirmed that this due diligence remains valid and the existing Environmental and Social Action Plan ("ESAP") will be applied to this transaction. Social consultants have been engaged to review and update the Livelihood Restoration Plan, which will provide adequate compensation for any businesses or individuals affected by the project. The most significant environmental and safety impacts will occur during the construction phase and can be managed through proper contractor control measures. Once implemented the project will improve traffic flow and make the tram system safer and more accessible. This project falls within the scope of the Bank's Green Economy Transition approach and Environmental and Social Policy will work with the team to develop a GCAP and SECAP for Belgrade.

Technical Cooperation

The below Technical Cooperation ("TC") packages have been envisaged under this project:

  • TC 1: Social Due Diligence on the proposed investment. EUR 5,000, funded from the Bank's own resources.
  • TC 2: Development of Sustainable Energy and Climate Action Plan ("SECAP") & GCAP for the City. The estimated cost of the assignment is up to EUR 500,000, funded by the Government of Japan.
  • TC 3: Supervision of works. The estimated cost of the assignment is EUR 550,000, funded from Bank's Shareholder Special Fund.

Company Contact Information

Dragan Milosevic
dragan.milosevic@beograd.gov.rs
+381 11 321 62 19
+381 11 323 71 57
www.beograd.rs
City of Belgrade Secretariat for Investment Trg Nikole Pasica 6 11000 Belgrade Serbia

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