NWB BANK CLIMATE ACTION & WATER MANAGEMENT MBIL

The project consists of a multiple beneficiary intermediary loan (MBIL) with the second largest public sector bank in the Netherlands (NWB Bank) to finance small and medium-scale projects promoted by the water authorities (SSPAs). Sub-projects will be investments in flood protection and water management.

The proposed loan will be the third operation with NWB Bank. The first and second loans were fully disbursed in 2015 and 2016, respectively. Unlike the previous operations, the proposed loan will exclusively finance investments in the water sector, and the intended beneficiaries of the loan are water authorities in the Netherlands. The loan proceeds will be utilised during 2019-2020 to finance investments in flood defences and water resource management, to ensure continued compliance with EU Directives and national guidelines.

In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment and public procurement, the Bank will require such intermediary institution to take all the requisite measures to ensure that the environment and procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances will comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules. The Bank will require the intermediary institution to take all the requisite measures to ensure that the procedures carried out by the final beneficiaries for the sub-projects receiving Bank financing will comply with national legislation and the ElB's environmental and social standards, as set out in Vol I of the EIB Environmental and Social Handbook.

The intermediary institution will be required to take all the requisite measures to ensure that any procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances are in accordance with EIB Guide to Procurement and the relevant applicable EU public procurement rules.