Release date: 14 October 2013
Promoter – Financial Intermediary
BulgariaLocation
Description
The project is a major allocation under the structured programme loan "Bulgaria EU Funds Co-Financing 2007-13" (20060411) and concerns the 3rd phase of Sofia's metro extension. The works to be co-financed hereunder comprise the extension of the current metro line 1 from Tsarigradsko schosse to (i) Sofia International Airport through the residential area Drushba (lot 1) and to (ii) Sofia's largest residential area Mladost and its business park (lot 2). JASPERS has been involved in the project preparation and the EU Commission co-financing decsion has been issued on 14.12.2012.
Objectives
The project aims to improve the quality of the operation of public transport and move towards a more environmentally and financially sustainable transport system in the City of Sofia. It will improve the speed, comfort and reliability of public transport service and will increase its attractiveness thus contributing to reduce reliance on private cars and the negative impact on the environment. The project will improve the quality of the urban environment. It is in line with Bank's policy on Climate Action.
Comments
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 127 million
Environmental aspects
The project fall under Annex II of EIA Directive, according to which authorities decide on a case-by-case basis whether EIA has to be carried out or not. Full details on EIA and Natura 2000 issues will be checked at appraisal stage. The project contributes to reducing reliance on private cars and negative impact of transport on the environment, thus contributing to climate action objectives
Procurement
The promoter is a public entity subject to EU public procurement regulations. The Bank will require the promoter to ensure that contracts for the implementation of the Project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and 2004/18/EC) with parallel publication of tender notices in the EU Official Journal, as and where appropriate. Relevant details will be checked at appraisal stage
Status
Approved - 12/11/2013
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).