Release date: 7 September 2009
Promoter – Financial Intermediary
Ministry of Sea, Transport and InfrastructureLocation
Description
The project concerns the financing of multi-sectoral investment schemes in the context of the Islands Act and based on principles of the National Island Development Programme (NIDP); both are strategic documents for the islands’ sustainable development.
Objectives
The project is expected to comprise small-sized schemes in the fields of municipal infrastructure (including water, sewerage and electricity supply), social infrastructure and environmental protection, to be implemented over the period 2010-2013, and will benefit 58 local communities in 7 coastal-island counties.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 50 million.
Total cost (Approximate amount)
EUR 100 million.
Environmental aspects
The promoter will be required to comply with the provisions of EU environmental legislation (namely SEA, EIA and nature conservation areas; respectively Directives 2001/42/EC, 85/337/EEC as amended, 92/43/EEC and 79/409/EEC). The transposition of EU Directive on Energy Performance of Buildings directives (2002/91/EU) will be assessed.
Procurement
The projects will be small and procurement will comply with national regulations. Where necessary, EU procurement protocols will be followed (Directives 2004/17/EC and 2004/18/EC).
Status
Signed - 15/09/2011
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).