Lorca Earthquake Reconstruction

Promoter – Financial Intermediary

Comunidad Autónoma de la Región Murcia

Location

• Spain

Description

Reconstruction of various buildings, residential and non- residential, upgrading of cultural and historical heritage and improvement of public infrastructure (roads, telecommunications, utilities, etc.) in the municipality of Lorca (Region of Murcia), following the May 11^th 2011 earthquake.

Objectives

The project involves the financing of the reconstruction of residential and non-residential buildings damaged in the earthquakes of May 11th 2011.

Sector(s)

• Urban development

Proposed EIB finance (Approximate amount)

Up to EUR 250 million

Total cost (Approximate amount)

Up to EUR 500 million

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. The potential social impacts will also be assessed as part of the appraisal.

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. The promoter’s procurement rules and practices will be further reviewed by the Bank during appraisal.

Status

Signed - 28/06/2012