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    Reference: 20140173
    Release date: 12 June 2014

    Promoter – Financial Intermediary

    MUNICIPALITY OF BUDAPEST

    Location

    Description

    The project concerns the financing of different investment schemes in the city of Budapest within its Integrated Urban Development Strategy, mainly in the field of public transport and on the road network.

    Objectives

    The improvement and upgrading of municipal infrastructure is a pre-condition for the city's continuing economic development, and a pre-requisite for increasing its attractiveness to investors, whilst simultaneously improving the quality of life of its citizens, upgrading the urban environment and valorising the existing resources such as the relevant cultural and historical attractions. The project will include schemes, typically of small- to medium-size, linked to EU thematic objectives and investment priorities such mobility, multi-modal transportation, and energy efficiency (i.e. public transport and road network).

    Comments

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 200 million

    Total cost (Approximate amount)

    EUR 1417 million

    Environmental aspects

    The Bank’s appraisal will primarily focus on the promoter’s environmental management capacity and on the verification of the correct application of the EU Directives, including undertaking of Strategic Environmental/ Environmental Impact Assessments (EIAs) and an assessment of the requirements of the Habitat and Bird Directive where appropriate. Some of the schemes might fall under Annex I or Annex II of the EIA Directive (2011/92/EU). Details on environmental aspects of each scheme and compliance with EU directives, when and where relevant, will be checked at allocation stage.

    Procurement

    The promoter is a public entity and is therefore subject to EU Public Procurement rules. The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation, with publication of tender notices in the EU Official Journal, as and where required.

    Status

    Signed - 29/12/2015

    Disclaimer

    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).

    Related tags

    Hungary Transport