TISZA FLOOD PLAIN (FL20150006)

Promoter – Financial Intermediary

ORSZAGOS VIZUGYI FOIGAZGATOSAG

Location

• Hungary

Description

The Tisza Flood Plain project affects 62.21 km of embankments on the right bank and 53.25 km on the left bank of the Tisza river and involves a combination of measures of reconstruction of embankments of nature protections, improvements to summer and natural levees as well as river training interventions and improvements of flow within the flood conveyance zone.

Additionality and Impact

The quantified economic benefits of the proposed project consist of avoided damages to physical assets in the project area. In addition, the project will provide enhanced river flood protection to a population at flood risk of almost 125,000 inhabitants, who reside in settlements either directly exposed to river flood risk or in indirectly affected ones, and will mitigate disruptions to economic development caused by flood events. Moreover, improved flood protection is a potential catalyst to further stimulate economic development and may enhance the capacity of the region to retain its population base. Because the project does not generate incremental financial revenue, none of these benefits are captured by tariffs.

The project will contribute towards achieving compliance with the EU Floods Directive 2007/60/EC. It will also contribute to Climate Action and Environmental Sustainability. The project's contribution to EIB's Cohesion transversal objective is also significant, as it will make an essential contribution to the improvement of the quality of regional public infrastructure, safety and security of physical assets and services.

Objectives

The project contributes to reducing the 1 in 100 year flood event of the Tisza river by between 40 cm and 50 cm and provides improved protection against floods to an estimated 125 000 inhabitants.

Sector(s)

• Water, sewerage - Water supply; sewerage, waste management and remediation activities

Proposed EIB finance (Approximate amount)

EUR 8 million

Total cost (Approximate amount)

EUR 60 million

Environmental aspects

Where and if applicable, the requirements of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending Directive 2011/92/EC, the Habitats Directive (92/43/EC) and the Birds Directive (79/409/EEC) will be respected and the Bank will publish the full text of the relevant EIAs on its website. The Bank will assess the Promoter's capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations.

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 where applicable, and/or 2014/25/EU where applicable, and/or 2014/23/EU where applicable, as well as Directives 89/665/EEC and 92/13/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

Approved - 10/11/2021