ITALIAN URBAN DEVELOPMENT PROGRAMME LOAN

Financing of urban development projects carried out by Italian local governments under a programme loan. Sectors include urban regeneration, public buildings, social housing, schools and other public infrastructure.

The sub-operations are expected to support: i) area-based urban regeneration, ii) (re)construction/rehabilitation of open public spaces and green areas, iii) (re)construction/renovation of public buildings including schools, cultural and administrative buildings, iv) social and affordable housing, v) renewal of basic urban/municipal infrastructure including streets, pedestrian and cycle paths, public transport networks, sewage and water networks. The underlying sub-operations are expected to support the implementation of investments under multi-annual investment programmes of local authorities, demonstrating a planning-led approach and in support of integrated urban development and climate action strategies. The investments will be implemented across Italy. Provinces, municipalities and metropolitan cities will be eligible as Promoters for the sub-operations. Between five to eight sub-operations are expected to be implemented under the programme loan.

Compliance with the relevant EU Directives (EU EIA Directive 2011/92/EU amended by the EIA Directive 2014/52/EU, EU SEA Directive 2001/42/EC, Water Framework Directive (WFD) 2000/60/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC) will be verified during appraisal. An environmental impact assessment (EIA) may be required for some of the underlying sub-operations or some of the individual schemes; this will be verified during the appraisal of the sub-operations. The status of any environmental studies and public consultations related to the investments as well as the alignment of energy efficiency requirements with the EU Directive on the Energy Performance of Buildings (EPBD, 2018/844/EU) will also be further assessed during project appraisal. In case the Bank finances the purchase of new rolling stock (e.g. buses, tramways, etc.) to replace old rolling stock units, the Bank will request the Promoters to ensure compliance with the applicable standards when dismantling or scrapping the rolling stock being removed from service.

The Bank will require the Promoters to ensure that contracts for the implementation of the project will be tendered in accordance with the applicable EU procurement legislation: Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC and 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.