EIB-CDC CO-INVESTMENT PLATFORM URBAN DEVELOPMENT

The project consists in a newly-created investment platform with the French National Promotional Bank (NPB) Caisse des Dépôts et Consignations (CDC). The EIB's contribution will materialise through equity type financing (EUR 100m, from the newly-created "Infrastructure and Investment Window (IIW) Equity-Type Portfolio - NPBs" or "NPB sub-window", dedicated to cooperation with NPBs). The EIB intervention will leverage CDC's and other investors' investment capacity towards large urban development projects, in particular projects aiming at high social and environmental impact.

The platform will support urban development projects by way of equity financing. The platform will target projects fostering urban development, a sector of the French economy which is not receiving sufficient and much required funding from traditional sources, the insufficiency of which can be considered to be a "market failure".

The proposed investments fall under Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. Therefore, the Competent Authority will have to determine whether the project shall undergo a full EIA procedure. The aim is to target projects that have a structuring role in various French territories, in particular projects showing ambitious goals from an environmental point of view. Further details on the screening decision, the environmental permitting status, the proximity and potential impact of the project to natural conservation areas and other aspects of the environmental impact assessment will be clarified during the appraisal. The energy performance of the proposed buildings will be verified during the appraisal of the Project including the degree to which they comply with the EU Energy Performance of Buildings Directive.

The promoters have been assessed by the EIB as being private companies not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/23/EU / 2014/24/EU or 2004/18/EC, where applicable], then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/23/EU / 2014/24/EU or 2004/18/EC, where applicable, as well as Directive 89/665/EEC] as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.