Release date: 30 August 2010
Promoter – Financial Intermediary
Região Autonoma da Madeira
Location
Description
Reconstruction of key public infrastructure on the Portuguese island of Madeira following the natural disaster of the weekend of 20-21 February 2010 consisting of exceptionally heavy rains and flooding.
Objectives
The project would contribute to repairing and reconstructing the massive damage to the public infrastructure of Madeira caused by the above-mentioned natural disaster. The project would restore fundamental infrastructure in a Convergence, ultra-peripheral territory of the European Union.
Sector(s)
Proposed EIB finance (Approximate amount)
Indicatively EUR 250 million.
Total cost (Approximate amount)
To be verified.
Environmental aspects
The project is a multi-sector multi-scheme operation classified as a Framework Loan. Some of the schemes may eventually fall under Annex I or Annex II of the EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC, or may have an impact on an area forming part of the Natura 2000 network. It will be required that all the schemes be implemented in compliance with relevant EU environmental legislation.
Procurement
The promoter, as a public administration entity, is required to follow EU public procurement rules (Directives 2004/17/EC and 2007/18/EC), including publication of contract notices in the EU Official Journal as implemented by national law, if and where appropriate. Projects with values below the EU thresholds will be procured according to the provisions laid down in national legislation.
Status
Signed - 19/11/2010
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).