Summary sheet
The project concerns the financing of different investment schemes in the City of Budapest within its framework development plan, mainly in the field of public transport and on the road network.
The improvement and upgrading of municipal infrastructure is a pre-condition for the City's continuing development, and a pre-requisite for increasing its attractiveness to investors, whilst simultaneously improving the quality of life of its citizens, upgrading the urban environment and valorizing the existing resources such as the relevant cultural and historical attractions. The project will include schemes, typically of medium size, mainly in the fields of public transport and road network, but possibly also in other sectors.
Hungary, as a Member State, is obliged to follow the relevant EU rules in relation to the environmental impact of projects (namely SEA, EIA and Habitat/Natura 2000 Directives). The Bank’s appraisal will primarily focus on the promoter’s environmental management capacity and on the verification of the correct application of these Directives. Details on environmental aspects of each scheme, when and where relevant, will be checked at allocation stage.
The promoter is a public entity and is therefore subject to EU Public Procurement rules. EU Directives (2004/18/EC and 2004/17/EC) have been transposed into national legislation. Tenders will be/have been organized in compliance with EU requirements. Details will be reviewed at disbursement stage when formally submitted to the Bank for approval under the standard allocation procedure. Procurement procedures are therefore satisfactory to the Bank.