Release date: 10 May 2016
Promoter – Financial Intermediary
REPUBLIC OF MALTA
This operation will support Malta's smart and sustainable growth by contributing to the achievement of the objectives included in the Maltese Partnership Agreement (PA) and fixed in the Operational Programme "Fostering a competitive and sustainable economy to meet our challenges" (financed by the ERDF and the CF) and the Operational Programme II "Investing in human capital to create more opportunities and promote the well-being of society" (financed by the ESF). The schemes to be financed under this Structural Programme Loan will include investments in sustainable transport and urban development, energy, RDI, ICT, and SME competitiveness. The human capital development component is also expected to be significant in particular through measures fostering education, training, lifelong learning and social inclusion.
The Bank would also finance measures targeted at the protection of cultural heritage to enhance their tourism potential as well as the improvement of environmental quality, particularly in the waste and water sectors, and the shift towards a low-carbon economy. The latter aspect is particularly important to address Malta's dependency on imported fossil fuel for energy generation and the low energy performance in buildings. The schemes financed under this operation would therefore include energy efficiency measures and the production of renewable energy from locally available sources.
The operation will comprise the co-financing of the Operational Programme I "Fostering a competitive and sustainable economy to meet our challenges" (financed by the ERDF and the CF) and the Operational Programme II "Investing in human capital to create more opportunities and promote the well-being of society" (financed by the ESF). The Bank's financing is provided under the convergence objective of the 2014-2020 cohesion policy. The EIB loan will strengthen the sustainable development of Malta through the renewal and expansion of the economic and social infrastructure and, as a consequence, the improvement of economic competitiveness.
Proposed EIB finance (Approximate amount)
EUR 72 million
Total cost (Approximate amount)
EUR 850 million
Malta, as an EU Member State, has transposed the relevant EU Directives 2011/92/EU and 2001/42/EC into the national environmental legislation. The Bank's appraisal will focus on the Promoter's environmental management capacity to properly monitor the application of the EU SEA Directive 2001/42/EC, the EU EIA Directive 2011/92/EU, as well as the requirements of the Habitats and Birds Directives where appropriate. All relevant key documents for the project will be published, in line with the Bank's disclosure policy.
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 (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Signed - 23/09/2016
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).