FP086: Green Cities Facility
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FP086: Green Cities Facility | | Multiple Countries European Bank for Reconstruction and Development (EBRD) Decision B.21/34 28 November 2018 OFFICIAL USE Date of Submission: 26/02/2018 OFFICIAL USE OFFICIAL USE FINANCING / COST INFORMATION GREEN CLIMATE FUND FUNDING PROPOSAL | PAGE 3 OF 142 B Contents Section A PROJECT / PROGRAMME SUMMARY Section B FINANCING / COST INFORMATION Section C DETAILED PROJECT / PROGRAMME DESCRIPTION Section D RATIONALE FOR GCF INVOLVEMENT Section E EXPECTED PERFORMANCE AGAINST INVESTMENT CRITERIA Section F APPRAISAL SUMMARY Section G RISK ASSESSMENT AND MANAGEMENT Section H RESULTS MONITORING AND REPORTING Section I ANNEXES Note to accredited entities on the use of the funding proposal template Sections A, B, D, E and H of the funding proposal require detailed inputs from the accredited entity. For all other sections, including the Appraisal Summary in section F, accredited entities have discretion in how they wish to present the information. Accredited entities can either directly incorporate information into this proposal, or provide summary information in the proposal with cross-reference to other project documents such as project appraisal document. The total number of pages for the funding proposal (excluding annexes) is expected not to exceed 50. Please submit the completed form to: [email protected] Please use the following name convention for the file name: “[FP]-[Agency Short Name]-[Date]-[Serial Number]” OFFICIAL USE OFFICIAL USE FINANCING / COST INFORMATION GREEN CLIMATE FUND FUNDING PROPOSAL | PAGE 4 OF 142 B List of Figures and Tables Figure 1. Facility's approach to incremental costs of climate technologies 13 Figure 2. Green Cities Facility structure and link to outputs, outcomes and impacts Error! Bookmark not defined. Figure 3. Green bond issuances, 2012 – 2017. (Source www.climatebonds.net) 57 Figure 4. The EBRD investment review process 67 Figure 5. Green Cities Facility investment selection process 68 Figure 6. Green Economy Transition definition , qualification and assessment 70 Figure 7. Sub-sovereign loans 70 Figure 8. Sovereign loans 72 Figure 9. Sovereign Guaranteed Loans 73 Figure 10. Loans to Special Purpose Vehicles for PPPs 73 Figure 11. Frequency of the EBRD’s MEI Investments by size (EBRD EUR million), 2013 – 2017 78 Figure 12. Green City Action Plan cycle 79 Figure 13. Theory of Change for the Green Cities Facility 93 Figure 14. Water Stress in Central Asia 102 Figure 15. Water Stress in the MENA region 103 Figure 16. Water Stress in the Caucasus 104 Figure 17. Water Stress in the South-eastern European 106 Figure 18. Roles and responsibilities for assessing the use of GCF funding for GrCF investments 124 Figure 19. EBRD organisational structure and the governance of the GCF-EBRD Special Fund 130 Table 1. Financial Elements of the Green Cities Facility 10 Table 2. Proposed GrCF components, objectives, relevant GCF investment criteria and outputs 39 Table 3. Summary of the methodology for developing Green City Action Plans 41 Table 4: GCAP’s targeted environmental dimension and core indicators 43 Table 5: Example Climate Resilience Benefit Ratio calculation 49 Table 6. Example green city infrastructure technologies and their potential impact 84 Table 7. Climate Resilience Benefits metrics 87 Table 8. Example Environmental Indicators of the GCAP Methodology 100 OFFICIAL USE OFFICIAL USE FINANCING / COST INFORMATION GREEN CLIMATE FUND FUNDING PROPOSAL | PAGE 5 OF 142 B Acronyms ADB Asian Development Bank AE Accredited Entity AEB / EBRD Agreement Agreement Establishing the European Bank for Reconstruction and Development AMA Accreditation Master Agreement AML Anti-money Laundering AP Availability Payments BOD Biological Oxygen Demand CAPEX Capital Expenditures CCAP Climate Change Action Plan CFT Countering of Financing of Terrorism COO Countries of Operation CSO Civil Society Organisations CTF Clean Technology Fund DCF Donor Co-finance DOC Degradable Organic Carbon DSCR Debt Service Coverage Ratio E&S Environmental and Social E2C2 Energy Efficiency and Climate Change EBRD European Bank for Reconstruction and Development, “the Bank” EnPC Energy Performance Contracts ESCO Energy Services Company ESD Environmental and Social Department ESDD Environmental and Social Due Diligence ESMS Environmental and Social Management System ESP Environmental and Social Policy ESSF Environmental and Social Sustainability Framework EvD Evaluation Department FAA Funded Activity Agreement GCAP Green City Action Plans GCF Green Climate Fund GCoM Global Covenant of Mayors GET Green Economy Transition GHG Greenhouse Gas GIP Good International Practice GJ Gigajoules GrCF Green Cities Facility IADB Inter-American Development Bank ICLEI International Council for Local Environmental Initiatives IFI International Financial Institutions IFRS International Financial Reporting Standards IMF International Monetary Fund MEI Municipal and Environmental Infrastructure MENA Middle East and North Africa MoV Means of Verification MRV Monitoring, Reporting and Verification NAMA Nationally Appropriate Mitigation Actions NAP National Adaptation Plan OFFICIAL USE OFFICIAL USE FINANCING / COST INFORMATION GREEN CLIMATE FUND FUNDING PROPOSAL | PAGE 6 OF 142 B NAPA National Adaptation Programme of Action NDA Nationally Designated Authorities NDC Nationally Determined Contributions NEEAP National Energy Efficiency Action Plan OAD Operation Administration Department OCCO Office of the Chief Compliance Officer OECD Organisation for Economic Cooperation and Development OGC Office of General Council PD Procurement Department PIU Project Implementation Unit PM2.5 Particulate Matter PP&R Procurement Policies and Rules PPP Public Private Partnerships PRs Performance Requirements PV Photovoltaic QALY Quality Adjusted Life-Years RO Resident Offices SDG Sustainable Development Goals SEAP Sustainable Energy Action Plan SPV Special Purpose Vehicle TC Technical Cooperation tCO2eq Tonnes of Carbon Dioxide Equivalent The Facility Proposed Green Cities Facility The Facility’s region 9 beneficiary countries included under the Green Cities Facility The Framework EBRD Green Cities Framework approved by the EBRD Board on 30 November 2016 and covering all Countries of Operations The Special Fund GCF-EBRD Special Fund ToC Theory of Change ToR Terms of Reference UNFCCC United Nations Framework Convention of Climate Change OFFICIAL USE OFFICIAL USE FINANCING / COST INFORMATION GREEN CLIMATE FUND FUNDING PROPOSAL | PAGE 7 OF 142 B A – Programme Summary A.1. Brief Project / Programme Information A.1.1. Project / programme title Green Cities Facility A.1.2. Project or programme programme 9 countries eligible to receive GCF funding in the Caucasus, the Middle East and North Africa, Central Asia and south-eastern and eastern Europe (See Annex 1). A.1.3. Country (ies) / region The Caucasus and Moldova: Armenia, Georgia and Moldova The Middle East and North Africa: Jordan and Tunisia Central Asia: Mongolia South-eastern Europe: Albania, FYR of Macedonia and Serbia A.1.4. National designated authority (ies) NDAs as designated on the GCF website A.1.5. Accredited entity European Bank for Reconstruction and Development (EBRD) A.1.5.a. Access modality ☐ Direct ☒ International Executing Entities will comprise: European Bank for Reconstruction and Development (The consultants for the implementation of green city infrastructure investments will be procured and managed by the EBRD) National governments municipalities, state or municipal utility companies owned by municipalities or the national government, special purpose vehicle (in the case of PPPs), or energy service companies (ESCO).special purpose vehicles of a public private partnership, or energy service companies. A.1.6. Executing entity / beneficiary Beneficiaries: Municipalities, municipal or state utility companies, special purposes vehicle of a public private partnership, or energy service companies Final beneficiaries: Participants of the stakeholder (incl. civil society) engagement processes as part of green city action planning All citizens affected by the improved urban services and infrastructure A.1.7. Project size category (Total investment, million ☐ Micro (≤10) ☐ Small (10<x≤50) USD) ☐ Medium (50<x≤250) ☒ Large (>250) A.1.8. Mitigation / adaptation focus ☐ Mitigation ☐ Adaptation ☒ Cross-cutting A.1.9. Date of submission 26 February 2018 Jan-Willem van de Ven, Head of Climate Finance and Carbon Markets, Energy Efficiency and Climate Change Lin O’Grady, Deputy Head, Municipal and Environmental Contact person, position Infrastructure A.1.10. Project Nigel Jollands, Lead Policy Products, Energy Efficiency and Climate contact Change details Organization EBRD Email address [email protected]; [email protected]; [email protected] Telephone number +44 (0) 20 7338 6000 OFFICIAL USE OFFICIAL USE FINANCING / COST INFORMATION GREEN CLIMATE FUND FUNDING PROPOSAL | PAGE 8 OF 142 B Mailing address One Exchange Square, London EC2A 2JN, United Kingdom A.1.11. Results areas (mark all that apply) Reduced emissions from: Energy access and power generation ☒ (E.g. on-grid, micro-grid or off-grid solar, wind, geothermal, etc.) Low emission transport ☒ (E.g. high-speed rail, rapid bus system, etc.) Buildings, cities and industries and appliances ☒ (E.g. new and retrofitted energy-efficient buildings, energy-efficient equipment for companies and supply chain management, etc.) Forestry and land use ☐ (E.g. forest conservation and management, agroforestry, agricultural irrigation, water