Release date: 3 March 2008
Promoter – Financial Intermediary
The Federal State of the Free and Hanseatic City of Hamburg through a public limited company owned by the City.Location
Description
The project involves the refurbishment, extension, new construction and maintenance of 32 primary and secondary schools in the southern districts of Hamburg. A public limited company obtained the contract for an extensive remodelling programme and the maintenance of the 32 facilities throughout the concession period of 25 years.
Objectives
The project supports investments in new facilities as well as the rehabilitation and modernisation of existing schools. Improving education achievement is a priority for strengthening productivity growth and enhancing residents’ employment prospects. The EIB loan will contribute to the consolidation and modernisation of the schools and therfore to human capital formation and the economic and social development of Hamburg. Therefore the project is fully eligible for EIB funding under Article 267 of the Treaty, point (c) i2i (education).
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 300 million
Environmental aspects
Schools are not specifically mentioned in the EIA Directive on Environmental Impact Assessment, though the project is covered by Annex II of the Directive in relation to urban development. The Bank’s services will verify during appraisal the EIA screening decision of the Competent Authority.
Procurement
The Bank will require the promoter to ensure that all relevant contracts for the implementation of the project have been or shall be tendered in accordance with the relevant EU procurement legislation. The detailed procurement issues will be studied during appraisal.
Status
Signed - 24/07/2008
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).