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EBRD Allocates €100 for the development of Green Cities

The EBRD is considering engagement in the development of “Green Cities” in Georgia.

The proposed Framework consists of a facility of up to EUR 100 million to support municipal investments related to “Green Cities The total project cost is estimated at up to EUR 130 million including co-financing provided by an international donor(s).

Strategic planning – to priorities investments in pursuit of the green agenda. The cost is estimated to be EUR 150,000 per participating city

Gender Advisory Services Programme, which will include review of HR policies and practices, training and appropriate support and recommendations for including gender considerations in design and delivery of transport services. To be undertaken on a needs only basis for sub-projects where relevant. The cost is estimated to be in the range of EUR 100,000 – 300,000 per applicable sub-project, to be supported under the Gender Advisory Services Technical Assistance Programme, financed by the EBRD Shareholder Special Fund (“SSF”).

The EBRD is considering development of the Framework (“FW”) to support municipal investments by addressing key environmental challenges a number of Georgian cities are facing. While initial loans will be sovereign with on-lending to Cities and utility companies, the FW will also pursue non-sovereign lending structures.

The FW will seek to mobilise grant financing from international donors for capital investments and technical cooperation to support the broader transition objectives, implementation support and policy dialogue. The FW will also include engagement with local communities on the benefits of the Green City initiative.