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The Bank's loan will finance the state of Brandenburg's expenditure for its COVID-19 vaccination and testing programme.
The objective of the project is to support the state of Brandenburg's COVID-19 vaccination and testing programme.
The Bank's loan will finance the German federal state of Brandenburg's expenditure for its COVID-19 vaccination programme as well as for COVID-19 testing activities in schools and childcare facilities and for complementary services like IT, logistics, communication or public awareness campaigns. The project addresses the sub-optimal investment situation in the European health sector due to market failures originating from the public goods nature of health sector investments and the large externalities they generate. The project is expected to generate a range of economic and social benefits. By providing an effective response to the COVID-19 pandemic, the project responds effectively to the health care needs of the relevant population of the region. The project responds to the Bank's policy objective "Innovation, digital and human capital" (Health) objective. An efficient distribution of vaccinations and testing facilities will allow a continuation of economic activities, which will contribute to the region's economic sustainability. The Bank's 20-year loan to Brandenburg's promotional bank Investitionsbank des Landes Brandenburg (ILB) provides an important contribution to the financing of Brandenburg's unexpected expenses related to the pandemic. The loan provides flexible disbursement, interest rate and repayment arrangements and contributes to the diversification and stability of ILB's funding base.
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. It is expected that the project will bear wider benefits to the community as healthcare is an element of social cohesion and economic development.
The Bank will require the Promoter 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 (Directives 2014/24/EC and/or 2014/23/EC as well as Directives 89/665/EEC and 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.