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PECS -EUROPEAN CAPITAL OF CULTURE 2010

Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Hungary : € 50,000,000
Urban development : € 25,000,000
Services : € 25,000,000
Signature date(s)
27/05/2008 : € 5,500,000
27/05/2008 : € 5,500,000
19/05/2008 : € 19,500,000
19/05/2008 : € 19,500,000
Link to source
Data sheet
PECS -EUROPEAN CAPITAL OF CULTURE 2010
Other links
Summary sheet
Pécs - European Capital of Culture 2010

Summary sheet

Release date
30 January 2007
Status
Reference
Signed | 19/05/2008
20050433
Project name
Promoter - financial intermediary
Pécs - European Capital of Culture 2010
Municipality of Pécs
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million.
EUR 201 million.
Location
Sector(s)
Description
Objectives

Municipal development programme with a view to financing long-term, sustainable development projects for infrastructure development and urban renewal purposes of the Municipality of Pécs, which will host the European Capital of Culture event in 2010.

The Bank’s loan comprises essentially five major urban components; a music and conference centre; the Zsolnay Cultural Quarter - the renewal of an industrial building complex; the reconstruction and extension of a baroque building for fine arts; a regional library and information centre; and the upgrading of public squares and parks.

Environmental aspects
Procurement

Given the wide and disparate components undertaken for the European Capital of Culture 2010, and as many of them are closely linked geographically, the Promoter has been asked to undertake a Strategic Environmental Assessment (SEA) covering the project and any other related works.

The Bank requires that the Promoter ensures that contracts for the implementation of all projects are tendered in accordance with the coordinated EU procurement legislation (EU Directive 2004/18/EC).

Comments

Construction and community, social and personal service activities

Link to source
Summary sheet
Pécs - European Capital of Culture 2010
Other links
Data sheet
PECS -EUROPEAN CAPITAL OF CULTURE 2010

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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