LBP RAILWAY PAN-EUROPEAN

The operation is a multi-country framework loan to finance the modernisation and rehabilitation of railway freight, passenger rolling stock and related infrastructure, primarily in France and across Europe. Investments that facilitate the deployment of smart green urban mobility projects, including alternative fuels infrastructure (such as charging and refuelling stations), low or zero emission mobile assets, and digital investments (software and IT systems) as well as the renewal of other types of urban and interurban public transport vehicles (bikes, buses, coaches, metros and tramways) are also considered. aims at supporting investments in sustainable railway and urban mobility in France and across Europe.

The aim is to support public and private entities' investment projects in sustainable railway and urban mobility, primarily in France and across Europe.

The Framework Loan will support the deployment of zero-emission transport solutions and the implementation of the EU Alternative Fuel Infrastructure Regulation (AFIR) part of the Fit for 55 package to contribute to the decarbonisation of the transport sector in Europe. The project is expected to include many investments that provide the necessary infrastructure basis for the achievement of common EU and national transport policy objectives. The project will further increase the competitiveness of rail and public transport and prevent shift of traffic from public transport to road, enhancing sustainable transport in line with EU objectives, in line with the EU Sustainable and Smart Strategy and the EU's overall objective of cutting greenhouse gas emissions by 55% by 2030. Rail is a sector that will require significant financing over the coming years, accommodating future sustainable growth post-Covid 19, an essential ingredient in the greener EU economic recovery program.

Fully aligned with the objectives of the Paris Climate Agreement and yielding good economic returns, social and environmental benefits and employment, the operation contributes to the Bank's lending priority objectives for Transport (Rail and Urban Transport), as well as on climate action. The investments covered under this FL are expected to deliver benefits in terms of lower operational and maintenance costs as well as environmental and social benefits (safety, reduced local pollution, noise and global warming) thanks to the deployment of zero-emissions transport solutions. The operation is supported by an adequate governance system (and capabilities of the final beneficiaries).

The project is expected to contribute to the following objectives that address market failures through: (a) the reduction of the related negative transport externalities, (b) the generation of positive externalities through improved accessibility to services and employment by providing a more efficient and affordable alternative for urban mobility needs and (c) the improvement of the efficiency of the transport network and the optimisation of the use of public goods thus bringing benefits in terms of time and cost savings, and less traffic congestion. 

With the appropriate conditions in place, the project is acceptable for financing in environmental and social terms.

The project is a multi-scheme framework, therefore the need for an environmental impact assessment (EIA), in accordance with Directive 2011/92/EU (as amended by Directive 2014/52/EU), may vary depending on the characteristics of each scheme and will be analysed on a case by case basis. Any potential significant impacts on protected areas and the need for an appropriate assessment in accordance with the Habitats Directive 92/43/EEC will also be analysed on a case by case basis. The EIB will also specifically assess the arrangements for scrapping of the dismissed rolling stock. The project is expected to generate a substantial level of environmental benefits in terms of reduced air pollution, greenhouse gas emissions and noise, in particular in urban areas.

The promoter shall ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, with publication of tender notices in the Official Journal of the EU, as and where required.