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Signature(s)

Amount
€ 37,918,687
Countries
Sector(s)
Romania : € 37,918,687
Services : € 37,918,687
Signature date(s)
15/06/2015 : € 37,918,687
Link to source

Summary sheet

Release date
29 September 2014
Status
Reference
Signed | 15/06/2015
20140131
Project name
Promoter - financial intermediary
BUCHAREST S3 THERMAL REHABILITATION
MUNICIPIUL BUCURESTI - SECTORUL 3
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 38 million
EUR 226 million
Location
Sector(s)
  • Services - Public administration and defence; compulsory social security
Description
Objectives

Financing a multi-annual (2014-2017) investment programme for the refurbishment of multi-family private housing in Sector 3 in the municipality of Bucharest, as part of the National Energy-Efficiency Action Plan of Romania. In total 555 buildings with 45,537 apartments will be refurbished. The investment will focus on thermal energy-efficiency improvements of the building envelope (wall insulation, windows, roof and cellar insulation).

The proposed investments aim to reduce energy losses in multi-family housing and thus reduce energy consumption. Thermal rehabilitation of multi-storey residential buildings is part of the National Energy-Efficiency Action Plan of Romania, which intends to benefit the environment 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
Procurement

The operation will benefit the environment 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 regulations, where 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, so 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 Official Journal of the European Union, where appropriate.

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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) - BUCHAREST S3 THERMAL REHABILITATION
Publication Date
31 Mar 2015
Document language
Main Topic
Lending
Document Number
58216551
Document Focus
Environmental Information
Project Number
20140131
Sector(s)
Regions
Countries
Publicly available
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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.
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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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