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The proposed investment loan concerns the financing of multi-sector priority investments from the eThekwini capital expenditure in the period 2011-2014. The programme comprises the improvement, rehabilitation, upgrading and extension of municipal infrastructure and facilities which form part of the city's Integrated Development Plan (IDP).
The project will contribute to a more sustainable urban development and regeneration with an improvement of the urban environment through the provision and upgrading of municipal infrastructure facilities in key urban functions. It will also help creating an enabling environment for economic growth and development and therefore also contribute to achieving the Millennium Development Goals.
The project has to meet the environmental and social requirements of the Bank based on EU policy. The contents of environmental and social assessments undertaken by the promoter and the competent authorities' approvals will be analysed during appraisal.
The Bank will require the promoter to ensure that implementation of the project will be done in compliance with the Bank's Guide to Procurement.
This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.