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    Reference: 20170116
    Release date: 12 December 2017

    Promoter – Financial Intermediary




    EIB lending facility for the financing of projects in the areas of urban development, energy efficiency and renewable energy. The facility will be used to blend with European Structural and Investment Funds (ESIF) allocations, through the setting-up of a financial instrument for financing infrastructure projects in the above areas.


    The proposed operation responds to public policy objectives by financing sustainable infrastructure projects that contribute to the socio-economic development of urban areas. It will also contribute to climate action objectives, as energy efficiency, waste management and renewable energy projects shall be eligible investments.


    Proposed EIB finance (Approximate amount)

    EUR 200 million

    Total cost (Approximate amount)

    EUR 650 million

    Environmental aspects

    The subprojects to be financed should be compliant with EU EIA Directive 2014/52/EU (amending Directive 2011/92/EU), EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. Compliance with the relevant EU Directives will be verified during appraisal/allocation stage. The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed.


    The Bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/23/EU, 2014/24/EU, 2004/18/EC, 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the European Union, as and where required.


    Signed - 9/04/2018


    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).

    Related tags

    Greece Energy Urban development Industry