FLOOD RELIEF AUSTRIA

Signature(s)

€ 170,000,000

Austria : € 170,000,000

Credit lines : € 170,000,000

9/12/2002 : € 10,000,000

8/11/2002 : € 20,000,000

8/11/2002 : € 30,000,000

5/11/2002 : € 50,000,000

8/11/2002 : € 50,000,000

Summary sheet

21 October 2002

Signed | 22/10/2002

20020438

Central European Flood Relief Program - Emergency Framework Loan

Public and private sector entities affected by the floods.

Up to EUR 1 billion

Provisional estimates of extent of damages presented to the Bank amount to some EUR 25bn.

Austria

Credit lines

Rehabilitation of public and private damaged infrastructure and support to SMEs affected by August 2002 floods.

The Emergency Framework Loan will support urgent actions to allow normal economic and social activity to resume in the affected regions. The schemes eligible for the Bank's loan will be part of an overall program to restore basic infrastructure, public services and re-launch productive economic activities. The Emergency Framework Loan will build on the Bank's recent experiences of rapidly responding to and monitoring reconstruction programs following comparable natural disasters.

The projects are expected to be essentially reinstatement of existing infrastructure in accordance with EU EIA Directive 97/11 EC and national planning requirements including environment.

As a first reaction to the floods some authorities have accepted a general exemption from full tender procedures as provided for in the Directive 93/37 EEC and furthermore justified by the small size of the interventions.

Public, industrial, commercial and private infrastructure in the transport, environment and social sectors.

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