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    Reference: 20160951
    Release date: 1 June 2018

    Promoter – Financial Intermediary




    The project consists of the financing of the 3rd phase of Bucharest Sector 2's thermal rehabilitation programme to improve energy efficiency in 400 residential buildings located in Bucharest Sector 2. 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 concerns the third phase of the refurbishment programme of multi-family housing in the municipality of Sector 2 in Bucharest and it will contribute to the SFSB (Smart Finance for Smart Buildings) initiative. Approximately 400 buildings shall be refurbished. The project will focus on thermal energy efficiency improvements of the building envelope (wall insulation, windows, roofs and cellar insulation) as well as optimisation of the heating systems.


    Proposed EIB finance (Approximate amount)

    EUR 62 million

    Total cost (Approximate amount)

    EUR 99 million

    Environmental aspects

    This operation intends to bring environmental benefits by supporting measures, which reduce energy consumption, and help to mitigate climate change. The buildings to be rehabilitated are expected to have limited negative environmental impact during construction. Given the scale, location and nature of the sub-projects an environmental impact assessment (EIA), as defined under the EIA Directive 2014/52/EU amending the 2011/92/EU, is normally not required. The operation will comply with the requirements of the Energy Performance of Buildings Directive 2010/31/EU.


    The promoter is a public entity and therefore public procurement rules will apply. 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 national and EU procurement legislation (Directive 2014/24/EU as well as Directives 89/665/EEC and 92/13/EEC), which may include publication in the OJEU where appropriate.


    Signed - 4/10/2019


    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).

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    Romania Industry