GREEK LOCAL AUTHORITIES FRAMEWORK

The project is a framework loan to support medium-sized local authorities (of cities with more than approximately 50 000 inhabitants) and their dependent companies and other local/regional authorities in Greece. Individual loans will enable the borrowers to invest in the fields of transport, rehabilitation of streets/roads and improvement of traffic safety, educational infrastructures, cultural and historical heritage, public buildings rehabilitation, environmental improvement, energy efficiency and tourism infrastructure.

The project will facilitate and hasten the implementation of investments responding to the EU policy priorities. Schemes financed will contribute to the regeneration of the respective municipalities by improving the urban environment, according to the local investment and development strategies.

For schemes co-financed with Community grant instruments at programme level (Operational Programmes) a Strategic Environmental Assessment (SEA) is required in order to comply with the EU Directive 2001/42/EC. Some of the schemes to be financed may fall under the requirements laid down in the European EIA Directive 85/337/EEC and subsequent revisions.

For sub-projects either requiring an EIA or affecting a natural protected area (if any), the Promoters will provide the Bank with the non-technical summary of the EIA or demonstrate the appropriate approval of the scheme (according to the EU Habitats Directive 92/43/EEC and the EU Birds Directive 79/409/EEC).

The promoters are subject to public procurement rules according to EU regulations, in particular, EU procurement Directives (2004/18/EC and 2004/17/EC) are applicable.