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        MADRID URBAN RENEWAL II

        Signature(s)

        Amount
        € 60,000,000
        Countries
        Sector(s)
        Spain : € 60,000,000
        Composite infrastructure : € 60,000,000
        Signature date(s)
        30/11/2006 : € 60,000,000

        Summary sheet

        Release date
        17 February 2005
        Status
        Reference
        Signed | 30/11/2006
        20040607
        Project name
        Promoter - financial intermediary
        Madrid Urban Renewal II
        AYUNTAMIENTO DE MADRID
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to 50% of the total project cost
        Around EUR 200 million
        Location
        Sector(s)
        Description
        Objectives

        The project concerns a number of small- and medium-sized investments aiming at improving the basic infrastructure in Madrid, Spain’s largest city and capital. The investment schemes retained for the Bank financing are in sectors meeting the Bank’s eligibility criteria such as urban renewal, traffic & transport, social & educational infrastructure, cultural heritage and community health and sport facilities.

        The investments covered by the project are focused on a wide variety of eligible sectors for Bank’s financing and more specifically for urban renewal. The project will contribute to the economic development and the improvement of the quality of life of the inhabitants of Madrid.

        Environmental aspects
        Procurement

        EU legislation relating to environmental protection has been incorporated into national and regional laws. The schemes will be located in consolidated urban areas and most will not require an EIA, or affect natural reserve zones. Within the appraisal due diligence carried out by the EIB, the full application of national legislation and EU Directives for each investment scheme included in the project will be checked with the promoter.

        The promoter is required to comply with all the EU Directives as regards public procurement.

        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).

        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

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        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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