MULTIFUNCTIONAL LIBRARY PAROMLIN

Promoter – Financial Intermediary

CITY OF ZAGREB

Location

• Croatia

Description

The project concerns the revitalisation of the existing brownfield location in the centre of Zagreb to create a new multifunctional public building.

Additionality and Impact

The Project is a major allocation (Large Scheme) under the Zagreb Sustainable Urban Infrastructure Framework Loan (FL), supporting the the investment programme of the City of Zagreb. The Project consists in the revitalisation of the brownfield area in the city centre and creation of a new multifunctional public library as the capital's cultural centre.

The Project is expected to contribute to Climate Action and Environmental Sustainability (CAES) through energy efficiency and adaptation measures. It will also contribute to the economic and social cohesion, as it will be implemented in Grad Zagreb NUTS II region, which is considered as less developed region for the 2021-2027 Programming Period.

The operation is expected to be eligible under Article 309 point (a) projects for less developed regions and point (c) common interest.

In terms of addressing market failures, the Project will generate positive externalities through an improved provision of cultural and educational facilities, amenities and services, as well as improvement of the quality of life of residents.

Finally, the EIB would be providing financial added value, through its competitive and long-term financing terms aligned with the economic life of the Project assets and a flexible disbursement schedule. The EIB loan is helping to bridge the financing gap necessary for the implementation of the Project through co-financing the Integrated Territorial Investment (ITI) Programme co-financed by ESIF.

Objectives

The aim is to create a new public library as a cultural centre.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 30 million

Total cost (Approximate amount)

EUR 95 million

Environmental aspects

The project falls under Annex II of the Environmental Impact Assessment (EIA) Directive. An EIA screening was done in 2023 and the Project was screened out. Furthermore, given the urban nature of the project, there are no Natura 2000 or other protected areas nearby.

Procurement

The Promoter has to ensure that contracts for the implementation have been tendered in accordance with the applicable EU procurement legislation (2014/25/EU as well as Directive 92/13/EEC as interpreted by the Court of Justice of EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Approved - 18/12/2024