M6 Motorway - Tolna

Location:

Hungary

Project number:

47530

Business sector:

Transport

Notice type:

Private

Environmental category:

B

Approval date:

10 Jun 2015

Status:

Disbursing

PSD disclosed:

19 Feb 2016

Translated version of this PSD: Hungarian

Project Description

The European Bank for Reconstruction and Development (EBRD) together with Aberdeen European Infrastructure Partners LP has acquired a stake in M6 Tolna Zrt, the concession company operating Hungary's M6 motorway between the cities of Dunaújváros and Szekszárd (65km).

The M6 motorway is a north-south motorway in Hungary running along the Danube connecting Budapest with Pécs and continuing to the Croatian border.

Project Objectives

Through this investment, the Bank will contribute to bringing existing operating PPPs in Hungary to the next stage of their lifecycle allowing new sources of capital and more sophisticated long-term financiers to enter this market, further demonstrating that PPPs remain an effective and sustainable way of procuring infrastructure assets.

Transition Impact

The expected transition impact of the Project stems primarily from supporting the development of a secondary equity market for PPPs in the region. The Project will be the first to fall under the scope of a new framework aimed at supporting the development of a secondary market for maturing PPP projects across the Bank's region.

Client Information

M6 TOLNA BV

EBRD Finance Summary

EUR 11,120,069.00

Environmental and Social Summary

Categorised B (2014). Equity investment in a well-established PPP concession company who currently operates a section of a toll motorway in Hungary is not considered to be associated with significant E&S risks and/or impacts. The Bank's environmental and social due diligence (ESDD) was undertaken with the assistance of an independent environmental and social consultant and included a review of the PPP company's EHSS management systems, corporate policies and procedures and general performance associated with the operation of the existing motorway section against the Bank's 2014 Performance Requirements (PRs).

The ESDD has confirmed the section of the M6 Motorway operated by M6 Tolna was subject to a mandatory EIA and that M6 Tolna¿s operations are structured in line with national, EU and the Bank¿s environmental and social requirements.

Technical Cooperation

None.

Company Contact Information

René Defize
defizer@ebrd.com
Tel: +44 (0) 20 7338 8377
http://www.ebrd.com

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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