Release date: 9 August 2002
Promoter – Financial Intermediary
Madeira Autonomous Region.Location
Description
The project comprises a wide variety of schemes designed to improve basic infrastructure, roads, social and rural development, education, health, energy, fishing industry and environmental protection. It covers the co-financing of the Region's investment program (POPRAM III) under the 2000-2006 Community Support Framework.
Objectives
The project will contribute to regional development by modernising and increasing the competitiveness of the Madeira economy as well as providing for basic infrastructure requirements and environmental protection measures.
Sector(s)
Proposed EIB finance (Approximate amount)
Around EUR 200 mio.
Total cost (Approximate amount)
Estimated at EUR 1.2bn.
Environmental aspects
The requirements of Directive 97/11/CE have been transposed into national legislation and, indeed, given the sensitivity of the local environment, development policy is in many aspects less permissive than elsewhere within EU.
Procurement
Because EU procurement directives have been adopted nationally/locally, all schemes comply with prevailing EU procurement protocols.
Status
Signed - 22/11/2002