AQUANET WATER AND WASTEWATER III

The project covers various investments related to the development and modernisation of the water, wastewater and storm water infrastructure in the City of Poznan and surrounding settlements within the period of 2022-2028.

The project aims at enhancing the quality, security and climate change resilience of Poznan city's water management system by rehabilitating, upgrading, modernising and extending its water supply, wastewater collection and treatment and storm water management systems.

The project covers various investments relating to the development and modernisation of the water and wastewater infrastructure in the City of Poznan. The project is in line with EU and EIB policy objectives of environmental protection and climate action, and will generate positive externalities in the form of environmental and health benefits. These benefits would not be realised to the same extent without public intervention. EIB provides a significant financial contribution by offering longer maturity and flexible customised terms (e.g. drawdown conditions and grace and drawdown periods adapted to project implementation) compared to the conditions currently available on the market.

The EIB financing is structured to adequately address the Borrower's financing needs for the project, will accelerate its implementation and enable the Borrower to effectively absorb the available EU funding. It will also help the Borrower to strengthen its funding sources.

The EIB's involvement will therefore have an impact on mobilising other financiers and signalling that the project is sound and worth supporting, thereby facilitating the full financing and implementation of the project.

The project will contribute to ensuring compliance with key EU directives in the water sector notably the Drinking Water Directive 2020/2184, Urban Waste Water Treatment Directive (91/271/EEC) and the Water Framework Directive (2000/60/EC). Where and if applicable, the requirements of the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU and SEA Directive 2001/42/EC will be respected. The Promoter will in such case, prior to utilising any EIB funds, be responsible for transmitting to the Bank the environmental impact assessment (EIA) for publication on its website. For any part of the project that may have an impact on a nature conservation site, the Promoter will be required to provide to the Bank information on the mitigating measures required to comply with the Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively).

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