Release date: 1 June 2018
Promoter – Financial IntermediaryMUNICIPIUL BUCURESTI - SECTORUL 5
The project consists of energy efficiency investments in residential buildings in Bucharest S5. This project falls under the Smart Finance for Smart Buildings (SFSB) Initiative, a joint initiative of the EIB Group and the European Commission (EC) aiming at supporting Energy Efficiency investments in buildings.
This investment programme concerns the refurbishment of multi-family private residential buildings in Sector 5 in the municipality of Bucharest in Romania and this will contribute to the SFSB (Smart Finance for Smart Buildings) initiative. This is the first investment programme in energy efficiency in buildings in Sector 5. Approximately 100 buildings will be refurbished. The investment will focus on thermal energy efficiency improvements of the building envelope. In addition, small-scale investments regarding the heating system may also be included.
- Industry - Construction
Proposed EIB finance (Approximate amount)
EUR 12 million
Total cost (Approximate amount)
EUR 40 million
This operation will bring environmental benefits by supporting components that reduce energy consumption and thus help to reduce air pollution and mitigate climate change. The buildings to be rehabilitated are expected to have limited negative environmental impacts during construction. The Bank will assess the promoter's capacity and procedures to ensure compliance with national and European environmental regulations and Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the 2011/92/EU.
The promoter is a public entity and therefore public procurement rules will apply. The Bank will review systems and procedures applied by the promoter during the appraisal to ensure that the promoter will follow suitable procurement procedures, ensuring an appropriate selection of works, goods and services offered at competitive prices, such that contracts will be in line with the project's best interests. The review will include verifying compliance with relevant national and EU legislation on procurement (Directive 2014/24/EU as well as Directives 89/665/EEC and 92/13/EEC), which may include a publication in the OJEU where appropriate.
Signed - 21/12/2018
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).