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Signature(s)

Amount
€ 125,000,000
Countries
Sector(s)
Finland : € 125,000,000
Urban development : € 125,000,000
Signature date(s)
25/02/2013 : € 125,000,000
Link to source

Summary sheet

Release date
22 May 2012
Status
Reference
Signed | 25/02/2013
20120203
Project name
Promoter - financial intermediary
HELSINKI URBAN DEVELOPMENT
CITY OF HELSINKI
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 125 million
EUR 250 million
Location
Sector(s)
Description
Objectives

Regeneration of former port and harbour areas into central mixed-use urban neighbourhoods for residential and business purposes.

Redevelopment of urban areas to create mixed-use, energy efficient neighbourhoods for growing population and expanding companies and businesses. The project will comprise the reorganisation, improvement, upgrading and extension of municipal infrastructure and facilities. The sub-projects will form part of the city’s integrated development plans for the respective neighbourhoods.

Environmental aspects
Procurement

The selected sub-projects will be based on comprehensive urban regeneration and development strategies and plans. The question of the project (i) falling within a plan or a programme requiring a Strategic Environmental Assessment (SEA) in line with the EU Directive 2001/42/EC and/or (ii) falling under the Environmental Impact Assessment Directive 2011/92/EU will be further examined during appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings (recast) 2010/31/EU will also be further assessed during project appraisal.

The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18/EEC/ or 2004/17/EEC and Dir. 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate.

Link to source

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).

Documents

Environmental and Social Data Sheet (ESDS) - HELSINKI URBAN DEVELOPMENT
Publication Date
20 May 2015
Document language
Main Topic
Lending
Document Number
59217512
Document Focus
Environmental Information
Project Number
20120203
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - HELSINKI URBAN DEVELOPMENT
Publication Date
9 Jan 2021
Document language
Main Topic
Lending
Document Number
136218520
Document Focus
Environmental Information
Project Number
20120203
Sector(s)
Regions
Countries
Publicly available
Download now

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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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