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Signature(s)

Amount
€ 35,000,000
Countries
Sector(s)
Ireland : € 35,000,000
Transport : € 10,500,000
Composite infrastructure : € 24,500,000
Signature date(s)
27/11/2019 : € 10,500,000
27/11/2019 : € 24,500,000
Link to source

Summary sheet

Release date
1 April 2019
Status
Reference
Signed | 27/11/2019
20180464
Project name
Promoter - financial intermediary
COUNTY OF CORK INVESTMENT PROGRAMME
CORK COUNTY COUNCIL
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 35 million
EUR 125 million
Location
Sector(s)
Description
Objectives

This proposed multi-sector Framework Loan operation will partly finance the implementation of Cork County Council's multi-annual multi-sector investment programme. The project chiefly addresses integrated urban development of the towns, upgrade of social and cultural facilities, improvements in urban mobility and environmental measures such as groundwater and flood protection.

The project is envisaged to include local authority-owned schemes that fulfil the eligibilities of Integrated Territorial Development, Sustainable transport and Environmental Protection and Natural Resource Efficiency. Potential schemes mainly target the integrated urban regeneration of the County towns and may include for example town centre urban realm improvements, public tourism infrastructure, preservation of listed cultural/heritage assets and transformation in their functions to support economic development, improved social and cultural facilities, flood protection etc.

Environmental aspects
Procurement

The project comprises a multi-scheme operation classified as a Framework Loan and some of the schemes may eventually fall under Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU. Should any such scheme have a negative impact on an area forming part of the Natura 2000 network (falling under the Habitats Directive 92/43/EEC or Birds Directive 2009/147/EC), the Bank would require the Promoter to act according to the provisions of the aforementioned Directives as transposed into the national law. It is a requirement that all schemes must be implemented in compliance with the EU environmental legislation. Environmental and efficiency improvements in public buildings will be required to comply with the provisions of the EU Directive on Energy Performance of Buildings 2010/31/EU. If applicable, compliance with Article 4.7 of the Water Framework Directive (WFD) 2000/60/EC will be sought.

The Bank will 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 2014/24/EU, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Link to source
Other links

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) - COUNTY OF CORK INVESTMENT PROGRAMME
Publication Date
19 Jun 2019
Document language
Main Topic
Lending
Document Number
91951807
Document Focus
Environmental Information
Project Number
20180464
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.
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.

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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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