PORTO URBAN RENEWAL FL

Promoter – Financial Intermediary

CAMARA MUNICIPAL DO PORTO

Location

• Portugal

Description

This Framework Loan will support the implementation of the investment programmes/plans of the City of Porto, which is in line with the urban development strategy objectives (Plano Diretor Municipal), as well as with relevant sectoral and climate strategies. The project comprises, among others, investments in urban renewal and regeneration, including social, cultural and sports facilities, open spaces and green areas, as well as sustainable mobility schemes.

Objectives

The aim is to contribute to further develop the city of Porto and improve both its living and business conditions. The project will improve urban mobility and also foster economic development, considering the changes in demographic and economic conditions.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 200 million

Total cost (Approximate amount)

EUR 419 million

Environmental aspects

The compliance with the relevant EU Directives will be verified during appraisal: Directive 2011/92/EU as amended by the Environmental Impact Assessment (EIA) Directive 2014/52/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. For new and refurbished buildings, the compliance with EU Directive 2010/31/EU on Energy Performance of Buildings will be further examined during appraisal. For schemes triggering art. 4.7 of the Water Framework Directive 2000/60/EC, the compliance with this WFD will be further examined during the appraisal. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation, climate adaptation, pollution prevention, and protection and restoration of biodiversity & ecosystems. Finally, the project is expected to contribute to improve social inclusion, in particular through those schemes directly connected to mixed and integrated development as the ones on the social/affordable housing sector.

Procurement

The EIB will require the promoter to ensure that contracts for implementation of the project have been or 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 EU Court of Justice, with publication of tender notices in the EU Official Journal, as and where required.

Status

Approved - 27/11/2024