MADRID COVID-19 RESPONSE II

Financing of eligible investments incurred by the regional government of Madrid in relation to the COVID-19 pandemic.

The project will contribute to the region's preparedness, response and vaccination efforts in the fight against COVID-19.

The project will contribute to the region's Covid-19 response efforts including the prevention of new infections and timely deployment of the Covid-19 immunisation program. It will bring healthcare benefits in the form of higher immunity and lower mortality, thereby presenting significant positive externalities as improved confidence leads to the reopening of the local economy. The EIB loan, which offers an optional irregular repayment profile, will effectively contribute to project implementation by facilitating relatively long-term financing at favourable market rates. This operation is part of the EIB Group response to Covid-19 pandemic.

The project concerns operational and capital expenditures that are expected to be carried out in the Promoter's existing facilities already authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. However, in case the Promoter is notified by one of the competent environmental authorities that one of the components constituting the project should require an EIA or equivalent, a copy of such EIA needs to be sent to the EIB once established.

The Promoter has to ensure that contracts for the implementation of the project have been and will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/24/EU, as well as Directive 89/665/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.