Release date: 27 April 2007
Promoter – Financial Intermediary
Sächsische Aufbaubank - FörderbankLocation
Description
The project concerns the co-financing of promotional programmes focusing on urban renewal and rehabilitation projects in Saxony / Eastern Germany.
Objectives
It is foreseen that under this operation, EIB finances the respective shares that the state of Saxony contributes to the programmes.
The proposed operation would be interlinked with the planned JESSICA initiative (Joint European Support for Sustainable Investment in City Areas) that will be jointly promoted by EIB and SAB.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 350 million.
Total cost (Approximate amount)
EUR 970 million.
Environmental aspects
European and national legislation will be applied, in accordance with standard requirements for EU supported grant schemes.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the projects have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18, with parallel publication of tender notices in the EU Official Journal, as and where appropriate) (to be further examined during appraisal).
Status
Signed - 21/11/2007