Release date: 8 November 2005
Promoter – Financial Intermediary
Republic of Cyprus – Ministry of FinanceLocation
Description
Financing of small and medium-sized investments in urban renewal, urban transport and other sectors of importance to the urban environment throughout the Republic of Cyprus.
Objectives
The protection and enhancement of the urban environment is a key objective for European action and, against this backdrop, the project responds explicitly to current EU priorities. All schemes and/or sub-projects will be located in Objective 2 territory, and will contribute to the regeneration of the respective localities by promoting urban renewal and improving urban infrastructure in a planned and systematic fashion.
Comments
Construction.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 90 million.
Total cost (Approximate amount)
Up to EUR 180 million.
Environmental aspects
The sub-projects and/or schemes that will comprise the investment programme are unlikely to fall under Annex 1 of the EEC Directive 97/11 on environmental impact assessment. The promoter will assess environmental impact within the context of the prevailing planning and environmental regulations, with any mitigating measures that may be required considered in the context of the usual authorisations. The Bank will monitor this process closely.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation with parallel publication of tender notices in the EU Official Journal, as and when appropriate.
Status
Signed - 29/12/2005
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).