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Signature(s)

Amount
€ 40,000,000
Countries
Sector(s)
Cyprus : € 40,000,000
Urban development : € 10,000,000
Transport : € 30,000,000
Signature date(s)
30/09/2010 : € 10,000,000
30/09/2010 : € 30,000,000
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Summary sheet

Release date
9 June 2010
Status
Reference
Signed | 30/09/2010
20100255
Project name
Promoter - financial intermediary
Nicosia Urban Infrastructure

Municipality of Nicosia

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 40 million.
EUR 140 million.
Description
Objectives

Framework loan for the upgrading of Nicosia’s urban infrastructure including investments in municipal buildings, roads, pavements, walls and the urban environment.

The improvement and protection of the urban environment and a sustainable community in line with the 2010 Municipal Development Budget of the Municipality of Nicosia.

Environmental aspects
Procurement

As a local authority of a Member State, Nicosia Municipality is obliged to follow the relevant EU legislation regarding the environmental impact of projects (namely SEA, EIA and Habitat/Natura 2000 Directives) and accordingly it will be required that the Promoter implements all the schemes under this framework loan in compliance with the relevant EU environmental directives. Compliance with the EU Directive on the Energy Performance of Buildings (EU Directive 2002/91/EC) and its recast (approval expected during 2010) will be further examined during appraisal.

The Promoter is subject to and follows public procurement rules according to EU regulations, in particular EU procurement Directives (2004/18/EC and 2004/17/EC). Tenders have been/will be organised in compliance with EU requirements, with publication of tender notices in the EU Official Journal for schemes above thresholds.

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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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