Release date: 11 September 2009
Promoter – Financial Intermediary
Hungarian Ministry of Agriculture and Rural DevelopmentLocation
Description
Framework facility to co-finance schemes aiming at developing, managing and protecting the forests in Hungary.
Objectives
The proposed project will support the implementation of measures identified by Hungary’s Rural Development Operational Programme for the 2007-2013 programming period, and will focus in particular on afforestation, improved and sustainable forest management, soil protection and regeneration of natural habitat.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million.
Total cost (Approximate amount)
EUR 1500 million.
Environmental aspects
The project, a framework loan to support the co-financing of selected, long-term forestry measures of the Hungarian RDP, is expected to deliver multiple environmental benefits including improved forest ecosystem health, greenhouse gas sequestration and contribution to nature protection objectives. Forest activities may require an EIA subject to the judgment of the competent authority, in accordance with Directive 85/337/EEC. Where a Natura 2000 site may be affected, the Bank requires the promoter to follow the Nature Directives’ procedures as transposed into national law and to complete Forms A or B as appropriate. All the environmental aspects will be assessed in detail during the project appraisal process.
Procurement
The promoter is a public entity and therefore subject to procurement procedures which should comply with directive 2004/18/EG (to be assessed during appraisal).
Status
Signed - 19/10/2009
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).