Release date: 14 May 2014
Promoter – Financial IntermediaryManchester City Council
Framework loan to finance urban regeneration investment in Manchester, including development of urban infrastructure, puiblic buildings and service facilities, low carbon investments in heating and energy efficiency, and co-financing of financial instruments using European Structural and Investment Funds (ESIF).
The project aims at facilitating the combination of decentralised financial instruments (i.e. ESIF funded financial instruments available to Member States and regions) with EIB funding in order to increase the leverage effect and enhance the Bank's product offering. In addition, this project brings together technical assistance resources, available for project preparation and implementation, funded from either ESIF or ELENA resources.
- Urban development - Construction
Proposed EIB finance (Approximate amount)
GBP 100 million (EUR 126 million)
Total cost (Approximate amount)
GBP 230 million (EUR 289 million)
The project comprises a multi-scheme operation classified as a Framework Loan and some of the schemes may eventually fall under Annex II of the EIA 2011/92/EU Directive. Should any such scheme have a negative impact on an area forming part of the Natura 2000 network (falling under the Habitats Directive 92/43/EEC or Birds Directive 79/409/EEC), the Bank would require the promoter to act according to the provisions of the aforementioned Directives as transposed into the national law. It is a requirement that all schemes must be implemented in compliance with the EU environmental legislation.
The promoter will be required to follow the EU public procurement rules (2004/18/EC), including the publication of contract notices in the EU Official Journal as implemented by national law, if and where appropriate. Projects with values below the EU thresholds will be procured according to the provisions laid down in national legislation.
Signed - 27/11/2014
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).