The European Bank for Reconstruction and Development (EBRD) has allocated a sovereign loan of up to EUR 83 million to Georgia to be on-lent to the City of Tbilisi (the "City") for the benefit of Tbilisi Transport Company Ltd (the "Company"), a municipal company operating buses, the metro system and cable cars in Tbilisi. The loan is structured in two tranches: EUR 70 million and EUR 13 million.
The Project will finance the acquisition of a new bus fleet of approximately 200 modern 18-meter low-floor articulated compressed natural gas ("CNG") buses and the construction of a new depot for these buses.
The estimated cost of one bus is 350,000 EUR, or 1,300,000 GEL.
According to Tbilisi Transport Company explains that according to the best proposal within the tender, the number of buses can be adjusted and it will be changed by +/- 15%.
