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Coverage of financing requirements for CPSCL loans to local authorities.
The project forms part of the local authority investment programme under the government's tenth Five-Year Plan. CPSCL is currently the municipalities' main source of finance for meeting their priority infrastructure and local services investment needs. Two thirds of financing requirements will be covered by the municipalities' own funds and State subsidies and one third by CPSCL loans to local authorities. The project will contribute to improving the quality of and access to public infrastructure and services for local populations.
The Bank's environmental rules will apply.
The largest schemes under the project will be the subject of public invitations to tender published in the OJEU. Smaller-scale schemes will be put out to tender nationally.