Release date: 21 May 2014
Promoter – Financial Intermediary
MUNICIPIUL BUCURESTI - SECTORUL 4Location
Description
Financing a multi-annual (2014-2016) investment programme for the thermal rehabilitation of about 201 multi-storey residential buildings with about 13,879 apartments located in the Sector 4 of Bucharest. The project follows up on the 1st phase of the energy efficiency programme for residential buildings undertaken by the Municipality of Sector 4 of Bucharest and financed by the EIB in 2012.
Objectives
The proposed investments aim at reducing energy losses in multi-family lodgements and thus reducing consumption of energy resources. Thermal rehabilitation of multi-storey residential buildings is part of the National Energy Efficiency Action Plan of Romania aimed at bringing environmental benefits by supporting projects that help to reduce air pollution and mitigate climate change. For all buildings refurbished under the operation, energy performance certificates will be required. An independent verification of the quality of works and achieved energy savings will be implemented under the supervision of the Bank for selected buildings.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 48 million
Total cost (Approximate amount)
EUR 64 million
Environmental aspects
This operation will bring environmental benefits by supporting projects that reduce energy consumption and thus help to reduce air pollution and mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have limited negative environmental impacts. The Bank will assess the promoter’s capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations, if applicable, as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.
Procurement
The promoter is a public entity and therefore public procurement rules will apply. The Bank will review systems and procedures applied by the promoter during appraisal to ensure that the promoter will follow suitable procurement procedures, ensuring an appropriate selection of works, goods and services offered at competitive prices, such that contracts will be in line with the project’s best interests. The review will include verifying compliance with relevant national and EU legislation on procurement, which may include publication in the OJEU where appropriate.
Status
Signed - 3/10/2014
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).