Release date: 18 April 2016
Promoter – Financial Intermediary
OULUN KAUPUNKILocation
Description
The project consists of financing multi-sectoral investment schemes forming part of the Municipality's multi-year investment programme. The project is expected to comprise small to medium-sized schemes in the fields of municipal infrastructure, mobility measures, education and sport, social and health infrastructure, district heating and water management and will benefit the City of Oulu in Northern Finland.
Objectives
The city's long-term investment strategy aims to modernise the city's basic infrastructure and improving the quality of public services. The plan includes several components - public transport, street refurbishment, school upgrading, renovation of cultural heritage, reconstruction of social facilities, district heating and water supply - to be implemented over the next five years.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 702 million
Environmental aspects
Finland, as an EU Member State, has harmonised its environmental legislation in line with the relevant EU Directives 2011/92/EU and 2001/42/EC. The Bank's appraisal will focus on the promoter's environmental management capacity properly to apply the Strategic Environmental Assessment (SEA) Directive 2001/42/EC, the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended, as well as the requirements of the Habitats and Birds Directives where appropriate. Compliance with the EU Directive on the Energy Performance of Buildings (EU Directive 2002/91/EC) and its recast (2010/31/EU) will be further examined during appraisal. All relevant key documents for the project will be published, in line with the Bank's disclosure policy.
Procurement
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 Official Journal of the EU, as and where required.
Status
Signed - 17/06/2016
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).