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    Signature(s)

    Amount
    € 125,000,000
    Countries
    Sector(s)
    Finland : € 125,000,000
    Urban development : € 125,000,000
    Signature date(s)
    25/02/2013 : € 125,000,000

    Summary sheet

    Release date
    22 May 2012
    Status
    Reference
    Signed | 25/02/2013
    20120203
    Project name
    Promoter - financial intermediary
    HELSINKI URBAN DEVELOPMENT
    CITY OF HELSINKI
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 125 million
    EUR 250 million
    Location
    Sector(s)
    Description
    Objectives

    Regeneration of former port and harbour areas into central mixed-use urban neighbourhoods for residential and business purposes.

    Redevelopment of urban areas to create mixed-use, energy efficient neighbourhoods for growing population and expanding companies and businesses. The project will comprise the reorganisation, improvement, upgrading and extension of municipal infrastructure and facilities. The sub-projects will form part of the city’s integrated development plans for the respective neighbourhoods.

    Environmental aspects
    Procurement

    The selected sub-projects will be based on comprehensive urban regeneration and development strategies and plans. The question of the project (i) falling within a plan or a programme requiring a Strategic Environmental Assessment (SEA) in line with the EU Directive 2001/42/EC and/or (ii) falling under the Environmental Impact Assessment Directive 2011/92/EU will be further examined during appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings (recast) 2010/31/EU will also be further assessed during project appraisal.

    The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18/EEC/ or 2004/17/EEC and Dir. 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - HELSINKI URBAN DEVELOPMENT
    Publication Date
    20 May 2015
    Document language
    Main Topic
    Lending
    Document Number
    59217512
    Document Focus
    Environmental Information
    Project Number
    20120203
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Completion Sheet (ESCS) - HELSINKI URBAN DEVELOPMENT
    Publication Date
    9 Jan 2021
    Document language
    Main Topic
    Lending
    Document Number
    136218520
    Document Focus
    Environmental Information
    Project Number
    20120203
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

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    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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