Release date: 15 November 2006
Promoter – Financial Intermediary
Instituto da Habitação e da Reabilitação Urbana (IHRU). The final beneficiaries would also include Urban Regeneration Corporations (Sociedades de Reabilitação Urbana) formed under specific legislation in Portugal.
The framework loan will support the financing of the first phase of a multi-year programme for infrastructure and public space renewal in dilapidated urban areas where urban regeneration corporations (SRUs – sociedades de reabilitação urbana) have been created to implement integrated urban plans. The project will also support the rehabilitation of degraded units of social housing stock owned by the State, through the promoter and the SRUs across Portugal.
The framework loan will have positive economic impacts (direct and indirect) on eligible areas and will therefore contribute both to convergence policy and to sustainable urban development.
Proposed EIB finance (Approximate amount)
EUR 200 million.
Total cost (Approximate amount)
Tentatively estimated at EUR 900 million.
Local neighbourhoods will see their quality of life substantially improved through expanded social infrastructure, including additional green spaces, better drainage and sanitation, besides improved off-street parking for residents and better thermal insulation to substantially reduce energy consumption. In principle, measures and programmes focussing on upgrading of existing housing stock will not require EIA’s under EC/97/11 but this will be further verified during appraisal.
For the proposed project, procurement procedures may fall under Directive EC/2004/18 regarding public works contracts, public supply contracts and public service contracts or Directive EC/2004/17 for entities operating in the water, energy, transport and postal services sectors. The promoter and final beneficiaries follow established procedures, the compliance of which will be confirmed during appraisal.
Signed - 15/03/2007
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).