CYPRUS WASTEWATER INVESTMENTS PROJECT

Promoteur – Intermédiaire Financier

REPUBLIC OF CYPRUS

Lieu

• Chypre

Description

The project will finance the construction of sewer networks and treatment facilities for peri-urban communities across Cyprus. It will support the National Implementation Programme for the EU Urban Wastewater Treatment Directive, as well as the Central Government's strategy to align with the EU Urban Wastewater Treatment Directive.

Additionality and Impact

The Project concerns priority investments which must be implemented for Cyprus to comply with EU Directives in the wastewater sector (such as "Urban Wastewater Treatment Directive 91/271/EEC" (UWWTD)) and addresses the sub-optimal investment situation in the wastewater sector in the country. If the agreed investments are not implemented within the agreed timeframe the Republic of Cyprus may be asked to pay penalty fees.

The EIB financing on favourable terms such as long tenors matching the asset life, flexibility of drawdowns and longer availability periods matching implementation of the Project as well as attractive interest rates assist with the affordability of such large public investment programmes.

EIB and the Council of Europe Development Bank (CEB) have worked together to appraise the project and will co-financed some of the investments.

Objectifs

The aim is to comply with the EU environmental standards, whilst improving service efficiency. Furthermore, investments in wastewater projects generate positive externalities, such as environmental and public health benefits, by avoiding surface and groundwater pollution.

Secteur(s)

• Eau, assainissement - Production et distribution d'eau; assainissement, gestion des déchets et dépollution

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

EUR 206 million

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 8/12/2023