EAFRD CO-FINANCING EXTREMADURA

Co-financing investment schemes supported by the European Agricultural Fund for Rural Development (EAFRD) in Extremadura within the Spanish Partnership Agreement 2014-2020, with implementation until Dec-2025.

This project will enable the deployment of EU funding from the European Agricultural Fund for Rural Development (EAFRD) in Extremadura.

The Project will co-finance the contribution of the the Spanish Autonomous Community of Extremadura (Comunidad Autónoma de Extremadura) to the investments supported under the Rural Development Programme (RDP) 2014-2022 of the European Agricultural Fund for Rural Development (EAFRD), one of the European Structural and Investment Funds.

The Project contributes to three of the EIB's primary policy objectives and to the horizontal policy objective of Economic and Social Cohesion.

The Project supports rural development through a broad range of investments, including in basic rural infrastructure and services. It also contributes to the protection and sustainable use of natural resources. Moreover, by supporting SMEs in the agricultural sector, the Project helps to ease financial constraints typically facing SMEs.

Finally, EIB's financing provides the client competitive pricing, longer tenor and flexible loan conditions, such as long grace and disbursement periods, adapted to Project implementation. It also helps Extremadura to diversify its financing sources and provides funding stability.

Extremadura, as a Spanish region, is subject to national legislation that transposed Directive 2014/52/EU amending the EIA Directive 2011/92/EU into the national environmental legislation. The Bank's appraisal will focus on the Promoter's environmental management capacity in applying the EU Strategic Environmental Assessment (SEA) Directive 2001/42/EC and Directive 2014/52/EU amending the EIA Directive 2011/92/EU, as relevant. The Rural Development Programmes co-financed by the EAFRD are subject to an SEA. Some schemes in the Operational Programmes shall fall under Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive. All schemes must be implemented in compliance with the EU environmental legislation. The applicability of Directive 2014/52/EU amending the EIA Directive 2011/92/EU, the Habitats Directive 92/43/EEC and the Birds Directive 2009/147/EC will be reviewed at appraisal and during the allocation phase.

The EIB will require the Promoter to ensure that contracts for the implementation of the project are tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU and 2014/25/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.