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Signature(s)

Amount
€ 35,000,000
Countries
Sector(s)
Ireland : € 35,000,000
Urban development : € 35,000,000
Signature date(s)
16/11/2021 : € 35,000,000
Link to source

Summary sheet

Release date
18 January 2021
Status
Reference
Signed | 16/11/2021
20190763
Project name
Promoter - financial intermediary
GAA INVESTMENT PROGRAMME
PAIRC AN CHROCAIGH CTR
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 35 million
EUR 71 million
Location
Sector(s)
Description
Objectives

Inner-city urban regeneration including development of conference, hospitality and cultural facilities.

The project will contribute to urban regeneration and development and is fully in line with the objectives of the Urban Agenda for the EU as presented in the Pact of Amsterdam of May 2016, which includes, among its priority themes, attracting jobs and new enterprises, urban regeneration, the sustainable use of land by re-using brownfield sites and combating urban sprawl. The project is a good example of innovative financing for tourism and cultural heritage, which is a focus under the new EU Urban Agenda Partnership on Cultural Heritage. The project will deliver innovation in areas related to its social and environmental mission and through knowledge creation, sharing and spillovers associated with its activities and initiatives of the GAA.

Environmental aspects
Procurement

Given the relative scale, location and nature of the works in built-up urban areas, all of the works are deemed not to have any significant negative environmental or social impact. The Bank will review relevant permits, public consultations and authorisation processes, including mitigation/compensation measures to be taken and any potential effects on nature conservation sites (Habitats Directive 92/43/EEC and Birds Directive 2009/147/EC). Through the project, a new nearly zero-energy building (NZEB), as per the requirements of the Energy Performance Building Directive (EPBD 2018/844/EU amending the 2010/31/EU [Article 9(1)]), will be constructed which will, after completion, reduce energy consumption and pollutant emissions compared to the business-as-usual scenario (in compliance with the current regulation).

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 2004/17/EC), then the Bank would require the Promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC, where applicable, as well as Directive 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Related projects
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) - GAA INVESTMENT PROGRAMME
Publication Date
26 Jan 2021
Document language
Main Topic
Lending
Document Number
134385437
Document Focus
Environmental Information
Project Number
20190763
Sector(s)
Regions
Countries
Publicly available
Download now

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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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