FIERA MILANO EXHIBITION CENTRE

The operation concerns the financing of the 2018-2020 investment programme of the promoter, Fondazione Fiera Milano, to upgrade and improve the existing buildings and infrastructure of the Milan trade fair and exhibition centre.

The Milan trade fair and exhibition centre is an important contributor to the economic growth of the city of Milan, which is at the hearth of the most dynamic area in the Italian economy. The refurbishment and expansion foreseen in the promoter's investment programme will increase the efficiency and the competitiveness of the Milan trade fair and its capacity to attract visitors. This, in turn, will generate positive externalities for exhibitors - particularly small and medium-sized enterprises (SMEs) - and other economic activities that provide services to tourists, such as, among others, restaurants, hotels and museums, in terms of increased activity and employment generation. The Milan trade fair is also an important agent for change and urban renewal of the city of Milan and the expansion and refurbishment of its infrastructure will be in line with the city's strategic policy objectives concerning urban development.

The project's environmental impacts will be carefully assessed during the appraisal. However, since the investments will be implemented in already urbanised areas through the refurbishment and expansion of existing buildings, no major negative impacts on natural environment, including protected areas, are expected. By contrast, the project is expected to generate positive externalities, in particular through reduced energy consumption, a more efficient heating and cooling system and renewable energy generation. This is expected to entail a positive contribution to climate action. The compliance of the different components of the project concerning new and refurbished buildings with the EU Directive on Energy Performance of Buildings will be assessed during the appraisal.

The promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (Directive 2014/23/EU, 2014/24/EU or 2004/18/EC where applicable), then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/23/EU, 2014/24/EU or 2004/18/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.

n/a