FLOODS EMERGENCY RECOVERY AND RESILIENCE LE

Promoter – Financial Intermediary

ACCEPTABLE BANK(S)

Location

• EU Countries

Description

The Lending Envelope (LE), consisting of sub-operations as multiple beneficiary intermediated loans (MBIL) or Framework Loans (FLs) with acceptable financial intermediaries, will support the reconstruction after the severe floods in Austria, Poland, the Czech Republic, Slovakia, Romania and other Member States.

Objectives

By providing additional liquidity to banks and other financial institutions, the aim is to support sustainable rebuilding efforts and preventive measures to enhance resilience against future flooding events. As a result, the LE will mitigate the economic impact of the floods and ensure a quicker recovery for the affected communities, by reducing their vulnerability in case of similar disasters in the future.

Sector(s)

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

Proposed EIB finance (Approximate amount)

EUR 1000 million

Total cost (Approximate amount)

not applicable

Environmental aspects

The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Under appraisal - 8/10/2024