Release date: 7 April 2020
Promoter – Financial Intermediary
FUND FLAG EADLocation
Description
A framework loan to FLAG to support the modernisation and expansion of the urban infrastructure of municipalities across Bulgaria. The loan will be additional to the investments supported by the urban development Decentralised Financial Instruments ("DFI") in Bulgaria and will cover smaller scale investments in multiple sectors.
Objectives
The project is aimed at supporting multiple investments in urban regeneration and renewal of municipal infrastructure, energy efficiency in public buildings, open green areas, and sustainable urban transport. It is expected to achieve positive environmental and social impacts and contribute to the improvement in the quality of life for local residents and in the attractiveness and competitiveness of cities.
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 50 million
Environmental aspects
Compliance with the relevant EU Directives will be verified during appraisal stage: Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU, SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the 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.
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 2014/23/EU, 2014/24/EU and/or 2014/25/EU, 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 EU, as and where required.
Status
Signed - 27/07/2020
Disclaimer
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).