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    Reference: 20160406
    Release date: 31 August 2016

    Promoter – Financial Intermediary




    The multi-sector framework loan will support the integrated rehabilitation and reconstruction of the province of Manabi, particularly on the sub-region of Portoviejo, which is one of the regions most affected by the recent earthquake


    The proposed project is a framework loan to finance reconstruction of small scale, multi sector damaged infrastructure investments to cope with the consequences of the 2016 Ecuador earthquake in the sectors and areas such as: (i) rehabilitation and/or reconstruction of public buildings under proper anti-seismic and energy efficiency standards (regional and municipal buildings and social infrastructure such as schools, health centers, hospitals, social centers and other relevant buildings); (ii) recovery and reestablishment of water supply and sanitation, including network repairs, captation, pumping stations, treatment plants; (iii) recovery and reestablishment of energy supply, including grid repairs and substations; (iv) recovery and reestablishment of public telecommunication networks; (v) recovery of local and regional roads damaged by the earthquake (vi) repair and refurbishment of markets and other community buildings; and (vii) other relevant actions to be determined.


    This operation is covered by the EU Guarantee for EIB loans outside the EU.


    Proposed EIB finance (Approximate amount)

    USD 175 million (EUR 159 million)

    Total cost (Approximate amount)

    USD 175 million (EUR 159 million)

    Environmental aspects

    The large majority of the investments foreseen by the project are reconstruction, repairs and refurbishment under proper anti-seismic standards of collapsed and damaged infrastructure in sectors mentioned above. Road infrastructure works are to be constructed within existing rights of way or on new alignment over short sections. Therefore potential negative environmental impacts are likely to be minor. If situated in the EU, these schemes would likely fall under Annex II of EIA Directive 2011/92/EU and therefore be subject to screening. Some of the schemes nevertheless might require an EIA. Appropriate screening procedures, also in relation to natural habitats and protected species, as well as land acquisition/resettlement will be put in place. Given the complex situation, the relevant analysis of social risks and impacts of the project will also be dully carried out as part of the appraisal, in accordance with the EIB Social Standards.


    The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.


    Signed - 17/11/2016


    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).

    Related tags

    Ecuador Industry