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    Signature(s)

    Amount
    € 125,000,000
    Countries
    Sector(s)
    Romania : € 125,000,000
    Services : € 125,000,000
    Signature date(s)
    10/08/2011 : € 125,000,000

    Summary sheet

    Release date
    29 April 2010
    Status
    Reference
    Signed | 10/08/2011
    20090719
    Project name
    Promoter - financial intermediary
    Bucharest Sector 1 Thermal Rehabilitation

    The Municipality of Sector 1 Bucharest

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Up to EUR 125 million.
    Approximately EUR 220 million.
    Location
    Sector(s)
    Description
    Objectives

    The project concerns a multi-annual investment programme (2010-2012) for thermal rehabilitation of 525 multi-storey residential buildings (approx. 25,000 apartments) located in Bucharest, Sector 1. The investment will focus on thermal energy efficiency improvements of the building envelope (wall insulation, windows, roof and cellar insulation).

    The proposed investment aims at reducing energy losses in multi-family lodgments and thus reducing consumption of energy resources. Thermal rehabilitation of multi-storey buildings is part of the National Energy Efficiency Action Plan of Romania aimed at bringing environmental benefits by supporting projects that help to mitigate climate change.

    Environmental aspects
    Procurement

    This operation intends to bring environmental benefits by supporting projects that reduce energy consumption and help to mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have limited negative environmental impacts. The Bank will assess the promoter’s capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.

    The Bank will review systems and procedures applied by the promoter during appraisal to ensure that the promoter will follow suitable procurement procedures, ensuring an appropriate selection of works, goods and services offered at competitive prices, such that contracts will accord with the project’s best interests. The review will include verifying compliance with relevant national and EU legislation on procurement, which may include publication in the OJEU where appropriate.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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