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    Summary sheet

    Release date
    19 October 2021
    Status
    Reference
    Approved | 10/12/2021
    20210537
    Project name
    Promoter - financial intermediary
    RECONSTRUCTION OF CHAIN BRIDGE (FL20140173)
    BUDAPEST FOVAROS ONKORMANYZATA
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 58 million
    EUR 78 million
    Location
    Sector(s)
    Description
    Objectives

    Comprehensive reconstruction of the Széchenyi Chain Bridge in Budapest which is a historic landmark of the city.

    The project consists of the rehabilitation of the Széchenyi Chain Bridge in Budapest, a historical monument part of the national cultural heritage, located in the centre of the city (classified as part of the World Heritage) connecting the two sides of the city over the Danube. The status of the bridge and its related structures are deteriorated, so their reconstruction has become indispensable. The project's objective is to preserve the bridge's functionality as well as to improve the level of service for sustainable transport modes (public and non-motorised transport).

    Additionality and Impact

    The project consists of the rehabilitation of the Chain Bridge in Budapest. The status of the bridge and its related structures are deteriorated, so their reconstruction has become indispensable. The reconstruction will improve the connectivity and the travel conditions (in terms of efficiency, safety and comfort) between Buda and Pest in the heart of the city center. By reconstituting bridge's functionality, the project would also lead to an improvement of the level of service for the public transport as well as non-motorised transport users.

     

    The project will maintain and even improve accessibility, addressing market failures related to barriers to access transport options (accessible transport). It will also address market failures related to road externalities in terms of road safety (safe transport) as well as air, noise pollution and GHG emissions (green transport) through an improvement of the level of service for the sustainable transport modes (public and non-motorised transport). The project is fully in line with EU and EIB objectives on sustainable cities and regions, climate action and environmental sustainability.

     

    The project is expected to provide good socio economic benefits mainly in terms of better travel times for all users and lower operational costs for public transport operators, due to improved traffic conditions as well as drastically reduced maintenance costs for the city, thanks to the reconstruction. Further benefits may occur from the possible modal shift, through the improvement of the level of service for sustainable transport modes and the consequent reduction of road externalities (congestion, accidents, air and noise pollution and GHG emissions). Finally, the reconstruction will

    preserve the identity of the bridge as a World Heritage Site, an outstanding symbolic value for the City.

     

    EIB, through its technical and financial contribution, will support the implementation of a vital priority urban transport project for the city that is also included in the Transport Development and Investment Programme of the Budapest Mobility Plan.

    Environmental aspects
    Procurement

    The project is included in the Budapest Mobility Plan (BMT) that was subject to a Strategic Environmental Assessment (SEA), approved in 2019. The scope of the project is a protected UNESCO World Heritage site. The project has not been classified under Annex I or Annex II of the Directive 2014/52/EU amending the EIA Directive 2011/92/EU by the Pest County Governmental Office, Environmental Protection and Nature Protection Department. This has been confirmed by a statement from the competent authority issued in 2016. Compliance with environmental legislation will be verified during appraisal, notably for environmental impacts, as well as nature and world heritage conservations aspects.

    The Bank will require the Promoter to ensure that contracts for implementation of the project have been tendered in accordance with the 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 publication of tender notices in the Official Journal of the EU, as and where required. The public procurement process will be further analysed during appraisal.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - RECONSTRUCTION OF CHAIN BRIDGE (FL20140173)
    Publication Date
    15 Dec 2021
    Document language
    Main Topic
    Lending
    Document Number
    149693488
    Document Focus
    Environmental Information
    Project Number
    20210537
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

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