Release date: 15 January 2020
Promoter – Financial Intermediary
VALAMAR RIVIERA DD ZA TURIZAM
The project concerns the modernisation and development of the existing facilities and infrastructure of the Istra camping site, operated by a leading local tourism operator, which benefits mostly families with children. This is a follow-up operation of the Istrian Riviera Development project.
In line with local and national sector policies, as well as evolving market trends, the project aims to modernise ageing tourism infrastructure to address an increasing customer demand, ensure a further diversified offer of services and facilities and enhance safety standards.
- Services - Accommodation and food service activities
Proposed EIB finance (Approximate amount)
EUR 23 million
Total cost (Approximate amount)
EUR 56 million
This project concerns investments in tourism infrastructure. The proposed investments may fall under Annex I or II of Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU), requiring a full Environmental Impact Assessment or EIA screening by the national competent authority on the basis of Annex III to determine the need for a full EIA. If a specific investment is subject to an EIA, the Promoter will be required to provide the Bank with a copy of the non-technical summary (NTS) of the EIA, or provide a website link to the location where the document is published in compliance with the EIB's Public Disclosure Policy. The Promoter will confirm that the project incorporates all mitigating measures recommended as a result of the EIA. Where relevant, the promoter shall obtain written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation importance, including sites protected under the "Habitats" and "Birds" Directives (92/43/EEC and 2009/147/EC respectively) and the associated Natura 2000 network.
The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation, Directive 2014/23/EU / 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, where applicable, then the Bank would require the Promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU or 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 EU Official Journal, as and where required.
Signed - 30/12/2019
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).