BOLOGNA UNIVERSITY CAMPUS DEVELOPMENT II

The project comprises the design, construction, renovation and restoration of a number of buildings. The project components are mostly located within the university's estate in the city of Bologna, but there are also investments in Ravenna, Cesena and Imola.

The project comprises the second phase of the university's strategic investment plan, called "Next Generation Bologna" following the previously financed investment plan "Next Stop Bologna." The investments comprise renovations to existing academic buildings, the renovation of part of a train station to create student accommodation, construction of new facilities for the departments of biomedicine, psychology and additional student accommodation plus transversal investments to improve accessibility and other energy efficiency measures across the university's estate. The project investments will be predominantly located in Bologna with some investment components taking place in Ravenna, Cesena and Imola.

The Project supports the continuing expansion, renovation and modernisation of the extended campus of the University of Bologna, which will live up to the highest standards of modern teaching, learning and research environments. It addresses a market failure with regard to sub-optimal levels of investment in higher education in Italy. The Project will generate positive externalities for society in terms of improved education provision and knowledge externalities from expanded and improved teaching, learning and research. It will also support the continuing protection and preservation of its historical buildings and improving the energy performance of its estate by including energy efficiency measures and using technology to map and monitor future lifecycle maintenance.

EIB contribution to the Project is very good from a financial standpoint, due to the offering of unique loan terms (tenor, disbursement tranching, availability period), as well as from a technical standpoint, with specific reference to improved climate action and environmental sustainability features.

Directive 2014/52/EU amending the EIA Directive 2011/92/EU on Environmental Impact Assessment (EIA) does not specifically cover university infrastructure, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, university and educational infrastructure may fall under Annex II of the Directive with respect to urban development. The public buildings will be required to at least meet the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency.

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 2014/24/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.