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Signature(s)

Amount
€ 25,000,000
Countries
Sector(s)
Spain : € 25,000,000
Transport : € 25,000,000
Signature date(s)
30/05/2022 : € 25,000,000
Link to source

Summary sheet

Release date
11 March 2022
Status
Reference
Signed | 30/05/2022
20210540
Project name
Promoter - financial intermediary
ICF BARCELONA ROLLING STOCK
INSTITUT CATALA DE FINANCES
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 25 million
EUR 51 million
Location
Sector(s)
Description
Objectives

Financing the acquisition of eight electric trainsets to be operated in the underground network of the city of Barcelona by the municipal operator Ferrocarrils Metropolitans de Barcelona.

The project is part of the rolling stock renewal proposal included in the Infrastructure Master Plan 2021-2030 of Barcelona's Metropolitan Area. The project generates good economic and social benefits, improving reliability and availability of public transport services, potentially reducing the use of private cars in the city and thus minimising transport externalities including noise, pollution and CO2 emissions.

Additionality and Impact

The project consists of the acquisition of 8 electric trainsets to be operated in the underground network of the city of Barcelona by the municipal operator Ferrocarrils Metropolitans de Barcelona. This acquisition is part of the rolling stock renewal proposal included in the Infrastructure Master Plan 2021-2030 of Barcelona's Metropolitan Area. The project generates good economic and social benefits, improving reliability and availability of public transport services potentially reducing the use of private cars in the city and thus minimizing transport externalities including noise, pollution and CO2 emissions. Overall, after completion the project is expected to serve around 84 million passengers per year. In addition, the project is rated as having a "Significant Impact" on Gender Equality Tag.

EIB is supporting with long-term finance the participation of the regional promotional bank as intermediary in this operation. The terms and conditions offered would not be matched by other financiers, in particular the long tenor and availability period which are features aligned with the project implementation and economic life of the asset being financed. These will allow the intermediary to maintain a sound and balanced financial structure by matching the tenor of the EIB loan with that of the final Beneficiary.

Providing terms and conditions aligned with the project, such as long grace periods and flexible draw-down conditions, will allow the intermediary to offer better terms to the public rail operator, directly reducing transfers from the public administration.

Environmental aspects
Procurement

The acquisition of new rolling stock (metros) does not fall within the scope of the EIA Directive 2014/52/EU (amending Directive 2011/92/EC). Therefore, no environmental impact assessment (EIA) will be required. The Bank will review the compliance with relevant EU directives and will require the Promoter to follow applicable environmental EU legislation.

The Bank requires the Promoter to ensure that contracts for the implementation of the project have been and shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/25/EU (repealing 2004/17/EC) and/or 2014/24/EU (repealing 2004/18/EC) as well as Directive 2007/66/EC (amending Directives 89/665/EEC and 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
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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) - ICF BARCELONA ROLLING STOCK
Publication Date
27 Apr 2022
Document language
Main Topic
Lending
Document Number
148806138
Document Focus
Environmental Information
Project Number
20210540
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - ICF BARCELONA ROLLING STOCK
Publication Date
30 Dec 2024
Document language
Main Topic
Lending
Document Number
238617198
Document Focus
Environmental Information
Project Number
20210540
Sector(s)
Regions
Countries
Publicly available
Download now

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
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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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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Zero tolerance against fraud and corruption

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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