ISCHIA ISLAND POST DISASTER AND CC RESILIENCE FL

Promoter – Financial Intermediary

REPUBBLICA ITALIANA

Location

• Italy

Description

The framework loan will finance the urgent post disaster reconstruction measures on the Island of Ischia following the earthquake and landslides/floods that occurred 2017 and 2022 respectively.

Objectives

The aim is to finance the rehabilitation of damaged private and public buildings as well as infrastructure (e.g. urban roads, integrated water-cycle and other networks). The operation will also support prevention and mitigation measures to cope with hydrogeological risk in the area, both through a dedicated credit facility and technical assistance/advisory support.

Sector(s)

• Composite infrastructure - Construction

Proposed EIB finance (Approximate amount)

EUR 600 million

Total cost (Approximate amount)

EUR 1260 million

Environmental aspects

All schemes must be implemented in compliance with the EU and national environmental legislation. With reference to individual reconstruction schemes, most of them are not expected to cause any significative negative impact on the environment and/or protected natural sites. Nevertheless, individual schemes falling within the scope of the environmental impact assessment (EIA) EU Directive 2011/92/EU (as amended by Directive 2014/52/EU) on the effects of certain public and private projects on the environment, shall be subject to an environmental impact assessment or a screening procedure. Schemes potentially affecting protected natural sites shall be subject to screening and, if required, to the appropriate appraisal under the Habitats (92/43/EEC) and Birds (2009/147/EC) Directives before the Bank funds are allocated. The Project has been assessed for Paris alignment and is considered to be aligned with both low carbon and resilience goals against the policies set out in the Climate Bank Roadmap (Annex 2) and/or associated guidance and other relevant documents. To the extent that the interventions will comprise the reconstruction of damaged public buildings and key infrastructure, negative impacts will be balanced by the benefits that the restoration of basic services will bring to the affected population. The project is expected to bring a number of positive social impacts, including the increase in the quality of public services available to the inhabitants as a result of the rehabilitation and modernisation of public buildings and infrastructure damaged by the earthquake, landslide and flood events. The reconstruction addresses and mitigates identified risks, including those resulting from the Climate Risk Vulnerability Assessment, according to "build back better" approach.

Procurement

The promoter has to ensure that contracts for the implementation of the project will be tendered in accordance with the applicable EU procurement legislation: Directive 2014/23/EU, 2014/24/EU, 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the EU Official Journal, as and where required.

Status

Under appraisal - 15/09/2023