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    Reference: 20190699
    Release date: 12 June 2020

    Promoter – Financial Intermediary




    The project supports schemes for reconstruction of public infrastructure damaged by the extreme weather events in the Mediterranean coastal regions of Spain between September 2019 and December 2021. Investments will mainly involve restoration of roads, social infrastructure (hospitals and education facilities), agricultural related infrastructure (such as forest roads, irrigation canals and drainage), water supply, rainwater and wastewater collection, and other urban infrastructure. It also includes new measures to protect the restored infrastructure from future climate related events (e.g. by incorporating build back better).


    The investment programme aims at restoring and improving the population's living conditions, reducing the vulnerability of the affected population and its economic assets, as well as protecting from future climate related events.


    Proposed EIB finance (Approximate amount)

    EUR 300 million

    Total cost (Approximate amount)

    EUR 643 million

    Environmental aspects

    The project promoters have to comply with national legislation that transposed Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU into the national environmental legislation. The Bank's appraisal will focus on the Promoters' environmental management capacity in applying the EU Strategic Environmental Assessment (SEA) Directive 2001/42/EC and Directive 2014/52/EU amending the EIA Directive 2011/92/EU, as relevant. All relevant key documents for the project will be published in line with the EIB's disclosure policy. Some of the schemes may eventually fall under Annex I or Annex II of the EIA Directive. All schemes must be implemented in compliance with the EU environmental legislation. The applicability of Directive 2014/52/EU amending the EIA Directive 2011/92/EU, the Habitats Directive 92/43/EEC and the Birds Directive 2009/147/EC will be reviewed at appraisal and during the allocation phase. Some schemes might concern the refurbishment of existing public buildings. The EIB will assess the Promoters' compliance with the Energy Performance of Buildings Directive (2010/31/EU) at appraisal and during the allocation phase, as applicable. Some schemes might include the rehabilitation or construction of water distribution, wastewater treatment infrastructure or of other water infrastructure. The Bank will assess the Promoter's compliance with the Water Framework Directive (WFD) 2000/60/EC at appraisal and during the allocation phase and will require the promoter that any investments in water and waste comply with amongst others the Water Framework Directive 2000/60/EC, the Urban Waste Water Treatment Directive 91/271/EEC and the Waste Framework Directive 2018/851/EC, and their contribution to resource efficiency from recycling


    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, mainly Directive 2014/24/EU 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.


    Approved - 15/07/2020


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Water, sewerage Urban development Industry Transport