COUNTY OF CORK INVESTMENT PROGRAMME

Promoter – Financial Intermediary

CORK COUNTY COUNCIL

Location

• Ireland

Description

This proposed multi-sector Framework Loan operation will partly finance the implementation of Cork County Council's multi-annual multi-sector investment programme. The project chiefly addresses integrated urban development of the towns, upgrade of social and cultural facilities, improvements in urban mobility and environmental measures such as groundwater and flood protection.

Objectives

The project is envisaged to include local authority-owned schemes that fulfil the eligibilities of Integrated Territorial Development, Sustainable transport and Environmental Protection and Natural Resource Efficiency. Potential schemes mainly target the integrated urban regeneration of the County towns and may include for example town centre urban realm improvements, public tourism infrastructure, preservation of listed cultural/heritage assets and transformation in their functions to support economic development, improved social and cultural facilities, flood protection etc.

Sector(s)

• Transport - Transportation and storage
• Composite infrastructure - Construction

Proposed EIB finance (Approximate amount)

EUR 35 million

Total cost (Approximate amount)

EUR 125 million

Environmental aspects

The project comprises a multi-scheme operation classified as a Framework Loan and some of the schemes may eventually fall under Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU. Should any such scheme have a negative impact on an area forming part of the Natura 2000 network (falling under the Habitats Directive 92/43/EEC or Birds Directive 2009/147/EC), the Bank would require the Promoter to act according to the provisions of the aforementioned Directives as transposed into the national law. It is a requirement that all schemes must be implemented in compliance with the EU environmental legislation. Environmental and efficiency improvements in public buildings will be required to comply with the provisions of the EU Directive on Energy Performance of Buildings 2010/31/EU. If applicable, compliance with Article 4.7 of the Water Framework Directive (WFD) 2000/60/EC will be sought.

Procurement

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 2014/24/EU, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 27/11/2019