Signature(s)
Summary sheet
- Urban development - Construction
The project is a municipal framework loan supporting the implementation of the investment programme of the city of Thessaloniki.
The project aims to transform Thessaloniki into a climate-neutral, smart, sustainable, resilient and attractive city, with positive benefits for public health, accessibility and well-being of citizens.
The Project will contribute to the implementation of Thessaloniki's Development Strategy, the 2030 Climate Neutrality Action Plan and the 2030 Climate Neutrality Commitments.
The Project is expected to contribute to Climate Action and Environmental Sustainability through sustainable urban transport and energy efficiency measures in public buildings. The Project will contribute to economic and social cohesion objective of the Bank. The City of Thessaloniki (the "City" or "Municipality" or "Thessaloniki") is under Central Macedonia NUTS II region, which is considered as transition region for the 2021-2027 Programming Period.
The operation is expected to be eligible under Article 309 point (a) projects for less developed regions and point (c) common interest. In terms of addressing market failures, the Project will generate positive externalities through an improved provision of facilities, amenities and services, which will result in positive economic and social externalities, in the form of a higher quality of enabling services for businesses and economic activities as well as improvement of the quality of life of residents.
Finally, the EIB would be providing financial added value, through its competitive and long term financing terms aligned with the economic life of the Project assets, flexible disbursement schedule and free of charge technical assistance/ advisory.
Where and if applicable, and based on a risk-based approach as defined in the EIB Group Environmental & Social Policy, the requirements of the Environmental Impact Assessment Directive 2011/92/EU as amended by Directive 2014/52/EU, Energy Performance of Buildings EU Directive 2010/31/EU Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be checked during appraisal.
The Bank will require the promoter to ensure that contracts for implementation of the project have been/will be 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 EU Official Journal, as and where required.