NAPLES AREA SEISMIC RISK FL

Post-earthquake rehabilitation and seismic resilience improvement of buildings and infrastructure in Naples area.

The Project is a framework loan to support post-earthquake rehabilitation and seismic resilience improvement of buildings and infrastructure in Naples area. The earthquake events occurred since May 2024 caused severe damages to buildings and infrastructure in the Phlegraean Fields area, a volcanic area falling under the municipalities of Naples, Pozzuoli and Bacoli. Investments include the rehabilitation of private residential buildings damaged by the seismic events since May 2024. The damage repair is coupled with investments aiming at strengthening the seismic resilience of private residential buildings, public buildings (primarily schools) and infrastructure (roads and other key civil infrastructure).

The Project concerns the rehabilitation of private residential buildings as well as public buildings and infrastructure damaged by the earthquake events occurred from 20 May 2024 in the Naples area. The Project also supports investments aimed at strengthening the seismic resilience of buildings and infrastructure, contributing to risk reduction and in line with build-back-better standards. Interventions are implemented by a multi-level governance system: private building rehabilitation are coordinated by the "Casa Italia" Department under the Italian Government, while a Special Commissioner appointed by the Italian Government is in charge of coordinating works on public buildings and infrastructure. The Project addresses multiple market failures, including the financial market failure in terms of timing and availability of funds to support post-disaster recovery and disaster risk reduction, and contributes to improving safety and living conditions of citizens. Financially, EIB's advantageous conditions and long tenor will contribute to improving the sustainability of the Borrowers' debt repayment capacity and optimising national resources.

The Bank will require the Promoter to act according to the provisions of the relevant EU legislation, mainly SEA Directive (2001/42/EC), EIA Directive (2011/92/EU, as amended by 2014/52/EU), Habitats Directive (92/43/EEC), Birds Directive (2009/147/EC) and Energy Performance of Building Directive (2010/31/EU) as amended by EU/2024/1275 and national legislation. The contribution to climate action (adaptation and mitigation) and environmental sustainability will be assessed during the appraisal.

The Bank will require the Promoter to ensure that contracts for implementation of the project will be tendered in accordance with the relevant 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 EU Official Journal, as and where required.