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    € 95,094,434
    Romania : € 95,094,434
    Services : € 95,094,434
    Signature date(s)
    23/07/2014 : € 22,470,000
    27/03/2015 : € 22,624,434
    18/12/2015 : € 50,000,000
    Link to source

    Summary sheet

    Release date
    28 November 2012
    Signed | 23/07/2014
    Project name
    Promoter - financial intermediary
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 95 million
    EUR 182 million
    • Services - Public administration and defence; compulsory social security

    The project concerns the thermal rehabilitation of multi-storey residential buildings located in Sector 1 Bucharest. The investments will extend to 457 buildings comprising about 26 100 apartments, which shall be refurbished during 2014-2017. The investment will focus on thermal energy efficiency improvements of the building envelope (wall insulation, windows, roof and cellar insulation). The project follows up on the 1st phase of the energy efficiency programme for residential buildings undertaken by the Municipality of Sector 1 of Bucharest and financed by the EIB in 2011.

    The proposed investments aim at reducing energy losses in multi-family lodgements and thus reducing consumption of energy resources. Thermal rehabilitation of multi-storey residential buildings is part of the National Energy Efficiency Action Plan of Romania aimed at bringing environmental benefits by supporting projects that help to reduce air pollution and mitigate climate change. For all buildings refurbished under the operation, energy performance certificates will be required. An independent verification of the quality of works and achieved energy savings will be implemented under the supervision of the Bank for selected buildings.

    Environmental aspects

    This operation will bring environmental benefits by supporting projects that reduce energy consumption and thus help to reduce air pollution and 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, if applicable, 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 promoter is a public entity and therefore public procurement rules will apply. 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 be in line 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.

    Link to source


    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).


    Environmental and Social Data Sheet (ESDS) - BUCHAREST S1 THERMAL REHABILITATION II
    Publication Date
    22 Jul 2014
    Document language
    Main Topic
    Document Number
    Document Focus
    Environmental Information
    Project Number
    Publicly available
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