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    Reference: 20090449
    Release date: 20 October 2009

    Promoter – Financial Intermediary

    Local authorities in Greece, primarily municipalities and prefectures and their dependent public service companies.

    Location

    Description

    The project is a framework loan to support medium-sized local authorities (of cities with more than approximately 50 000 inhabitants) and their dependent companies and other local/regional authorities in Greece. Individual loans will enable the borrowers to invest in the fields of transport, rehabilitation of streets/roads and improvement of traffic safety, educational infrastructures, cultural and historical heritage, public buildings rehabilitation, environmental improvement, energy efficiency and tourism infrastructure.

    Objectives

    The project will facilitate and hasten the implementation of investments responding to the EU policy priorities. Schemes financed will contribute to the regeneration of the respective municipalities by improving the urban environment, according to the local investment and development strategies.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    Total facility of EUR 100 million

    Total cost (Approximate amount)

    Total overall cost of schemes to be financed will exceed EUR 200 million.

    Environmental aspects

    For schemes co-financed with Community grant instruments at programme level (Operational Programmes) a Strategic Environmental Assessment (SEA) is required in order to comply with the EU Directive 2001/42/EC. Some of the schemes to be financed may fall under the requirements laid down in the European EIA Directive 85/337/EEC and subsequent revisions.

    For sub-projects either requiring an EIA or affecting a natural protected area (if any), the Promoters will provide the Bank with the non-technical summary of the EIA or demonstrate the appropriate approval of the scheme (according to the EU Habitats Directive 92/43/EEC and the EU Birds Directive 79/409/EEC).

    Procurement

    The promoters are subject to public procurement rules according to EU regulations, in particular, EU procurement Directives (2004/18/EC and 2004/17/EC) are applicable.

    Status

    Signed - 11/11/2013

    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).

    Related tags

    Greece Urban development