Release date: 6 August 2013
Promoter – Financial Intermediary
OULUN KAUPUNKILocation
Description
The project concerns the financing of multi-sectoral investment schemes forming part of the Municipality’s four-year investment programme from 2013 to 2016 in the City of Oulu in Northern Finland . The project is expected to comprise small to medium sized schemes in the fields of municipal infrastructure, mobility measures, education and sport, social and health infrastructure, district heating and water management.
Objectives
The project will contribute to urban renewal and transformation by meeting the demand for a growing population and new business developments and hereby reducing the need for Greenfield developments. The overall project will bring about a significant improvement in the quality of life for the citizens of Oulu and support the long-term economic growth in the municipality and the region as a whole.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 500 million
Environmental aspects
Finland, as an EU Member State, has harmonised its environmental legislation in line with the relevant EU Directives (2011/92/EU Directive and 2001/42/EC). The Bank’s appraisal will focus on the Promoter’s environmental management capacity to properly apply the EU SEA Directive 2001/42/EC, the EU EIA Directive 2011/92/EU, as well as the requirements of the Habitats and Birds Directives where appropriate. Compliance with the EU Directive on the Energy Performance of Buildings (EU Directive 2002/91/EC) and its recast (2010/31/EU) will be further examined during appraisal.
Procurement
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.
Status
Signed - 4/02/2014
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).