ENERGY EFFICIENCY MILAN COV OF MAYORS

The investments will mainly concern the refurbishment of existing public buildings, mainly schools, located in some 30 to 40 selected municipalities (out of a total number of 188 municipalities belonging to the Province of Milan, excluding the city of Milan).

The development of energy efficiency supports national and European targets defined in the context of EU’s climate change and security of energy supply objectives. In particular, the project contributes to the objectives of the Covenant of Mayors initiative of the Commission, as 62 municipalities of the Milan province have joined the Covenant. These municipalities have committed to reduce GHG emission by over 20% by 2020.

This operation intends to bring environmental benefits by supporting projects that help to mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have limited environmental impacts.

The Bank will review systems and procedures applied by the promoter during appraisal, including compliance with relevant national and EU legislation, as defined by Procurement Directive 2004/17/EC, and publication in the Official Journal of the EU where appropriate.