GASCOIGNE - Allocation under FRAMEWORK LOAN London Green Fund Co-financing Loan

Promoter – Financial Intermediary

London Borough of Barking and Dagenham

Location

• United Kingdom

Description

Development of social and affordable housing to be operated by the London Borough of Barking & Dagenham.

Objectives

Under the Framework Loan operation "London Green Fund Co-financing Loan", it is proposed to allocate funding to a large sub-project above the EUR 50m equivalent threshold: The Gascoigne housing estate redevelopment and regeneration is located in the London Borough of Barking and Dagenham, situated in East London. The scheme will concern the demolition and redevelopment of the housing estate area dating from the 1960s, located within the Borough's central area, Barking town centre.

Comments

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

GBP 40 million (EUR 49 million)

Total cost (Approximate amount)

GBP 80 million (EUR 98 million)

Environmental aspects

Compliance with the relevant EU Directives will be verified during appraisal: EU EIA Directive 2011/92/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the urban renewal, rehabilitation and reconstruction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project appraisal.

Procurement

The Bank will require the borrower to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18/EC and/or 2004/17/EC and Dir. 2007/66/EC [amending Directives 1989/665/EEC and 1992/13/EEC]), with publication of tender notices in the EU Official Journal, as and where required.

Status

Approved - 4/06/2014